Question: Please show all work and formulas When you purchase your car, you take out a five-year annual-payment loan with an interest rate of 5.6% per

Please show all work and formulas

Please show all work and formulas When you purchase your car, you

When you purchase your car, you take out a five-year annual-payment loan with an interest rate of 5.6% per year. The annual payment on the car is $5,400. Immediately after making your third payment, what is the total amount of interest you will have paid on the loan? After making your third payment, the total amount of interest you will have paid on the loan is $ 3,159.66. (Round to the nearest cent.)

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