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Peter buys a car worth $22,000 by putting a downpayment of 30% and taking a loan for the balance amount. The loan carries an interest

Peter buys a car worth $22,000 by putting a downpayment of 30% and taking a loan for the balance amount. The loan carries an interest rate of 5.99% over a period of 3 years and needs to be paid on a monthly basis. What is the total interest Peter is expected to pay over the life of the loan?

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