Jenna bought a new car for $37,000
$
37,000
. She paid a 10%
10
%
down payment and financed the remaining balance for 72
72
months with an APR of 6.5%
6.5
%
. 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.
Formulas
