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Sam wants to buy a car. He can afford to pay $650 monthly for 3 years. Current interest rates are 3.1% compounded quarterly. How much
Sam wants to buy a car. He can afford to pay $650 monthly for 3 years. Current interest rates are 3.1% compounded quarterly. How much interest does Sam pay over the term of the loan? Round your answer to 2 decimal
places.
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