Sarah borrowed $20,000 to purchase a new car at an annual in…
Sarah borrowed $20,000 to purchase a new car at an annual interest rate of 3.9%. She is to pay it back in equal monthly payments over a 5-year period. Her monthly payments are $367.43. Complete this sentence: The total interest over the life of the loan (to the nearest dollar) will be $_____________. (ANSWER FORMAT: In order to ensure you receive credit, DO NOT enter the $ sign nor commas and make sure you round answer to NEAREST DOLLAR.)