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Posted on Oct 06, 2024

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

E-lone, an online lending service, recently offered

36-month

auto loans at

5.4%

compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of

$346,

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 )

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