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After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $ 1 1 , 8 0 0 price, but financing

After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $11,800 price, but financing through the dealer is no bargain. He has $2,000 cash for a down payment, so he needs an $9,800 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $9,800 for a period of four years at an add-on interest rate of 13 percent.
a. What is the total interest on Richard's loan?
Note: Do not round intermediate calculations. Round your answer to the nearest whole number.
Answer is complete but not entirely correct.
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