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Will bought a new car and financed $26,000 to make the purchase. He financed the car for 72 months with an APR of 6.5%. Assuming

Will bought a new car and financed $26,000 to make the purchase. He financed the car for 72 months with an APR of 6.5%. Assuming he made monthly payments, determine the total interest Will paid over the life of the loan. Round your answer to the nearest cent, if necessary.

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Foundations of Finance The Logic and Practice of Financial Management

Authors: Arthur J. Keown, John D. Martin, J. William Petty

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