Question: please show all work 4. [12 pts] A car is being financed with monthly payments over a five-year period. The original loan amount is $12500

please show all work 4. [12 pts] A car is being

please show all work

4. [12 pts] A car is being financed with monthly payments over a five-year period. The original loan amount is $12500 at an annual rate of 8% compounded monthly. After two years the borrower refinances for an additional four years at an annual rate of 8% compounded monthly. What is the total amount of interest paid

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