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E - Loan, an online lending service, recently offered 3 6 - month auto loans at 4 . 5 % compounded monthly to applicants with

E $-$ Loan, an online lending service, recently offered $36 -$ month auto loans at $4.5 %$ compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $ $281,$ how

much can you borrow from E $-$ Loan? What is the total interest you will pay for this loan?

$($ Round to two decimal places. $)$

PART B

What is the interest?

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