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show work on paper 14, An n-year loan involves payments of $800 at the end of each month. The interest rate is 12% convertible monthly.

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14, An n-year loan involves payments of $800 at the end of each month. The interest rate is 12% convertible monthly. If the interest paid in the 45th monthly installment is $424.45, calculate the total amount of interest paid over the life of the loan. (A) 34,887 (B) 36,07 (C) 38,548 (D) 40,240 (E) 42,092

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