Wade Ellis buys a new car for 16,346 and $.26 he puts down 10% and obtains the simple interest loan for the rest at 11 1/2 interest for four years round your answer to the nearest
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Wade Ellis buys a car for $19,447.15. He puts 10% down and obtains a simple interest amortized loan for the balance at 11 and 1/2% interest for four years. After three years and two months of making the minimum monthly payment, he sells his car. Find the unpaid balance on his loan. (Round all intermediate calculations to the nearest cent. Round the answer to the nearest cent.) $
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Jenna bought a new car for $34,000. She paid a 20% down payment and financed the remaining balance for 36 months with an APR of 3.5%. Assuming she makes monthly payments, determine the total interest Jenna pays over the life of the loan. Round your answer to the nearest cent, if necessary.
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