BAD 103-02: Financial Litert Close 9.2 Interest Rates on Personal Loans 1 correc 5 of 6 (1 complete) Planning #5 (similar to): Loan Interest Question Help Loan Interest Sharon is considering the purchase of a car. After making the down payment, she will finance $23,200.00. Sharon is offered three maturities. On a four year loan, Sharon will pay $636,12 per month. On afve your loan, Sharor's monthly payments will be $439.32. On a six year loan, they wil be $374.92. Sharon rejects the four-year loan, as it is not within her budget. How much interest will sharon pay over the life of the loan on the five-year loan? How much interest will sharon pay over the life of the loan on the st-year loan? Which should she choose if she bases her decision solely on total interest paid? The amount of interest Sharon will pay over the life of the loan on the five-year loan is (Round to the nearest cent)