Peter buys a car worth $22,000 by putting a downpayment of 30% andtaking a loan for the balance amount. The loan carries an interest rate of 5.99% over a period of 3 years and needs to be paid on a monthly basis. What is the total interest Peter is expected to pay over the life of the loan?a. approximately $2,091b. approximately $1,236c. approximately $1,464d. approximately $2,767Business Finance FIN 4320Get a plagiarism-free order today we guarantee confidentiality and a professional paper and we will meet the deadline.
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