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A person purchases a car with a loan of $18,000. The interest is 6.9% APR compounded monthly. If the loan period is six years, then

A person purchases a car with a loan of $18,000. The interest is 6.9% APR compounded monthly. If the loan period is six years, then what is the finance charge?

You will have to compute the monthly payment, and then the total payments, and then subtract the initial loan amount.

This will be a dollar amount, but leave off the "$".

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