E-Loan, an online lending service, recently offered 48-month auto loans at 4.2 % compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $ 283 how much can you borrow from E-Loan? What is the total interest you will pay for this loan?

You can borrow $_____ .

(Round to two decimal places.)

You will pay a total of $______ in interest.

(Round to two decimal places.)