Calculate the total amount of interest dollars you will pay, Financial Management

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Calculate the total amount of interest dollars you will pay

You have borrowed $70,000 to buy a sports car. You plan to make monthly payments over a 15-year period. The bank has offered you a 9% interest rate compounded monthly. Calculate the total amount of interest dollars you will pay the bank over the life of the loan. Round to the nearest dollar and assume end-of-month payments.

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Financial Management: Calculate the total amount of interest dollars you will pay

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Financial Management: Calculate the total amount of interest dollars you will pay

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