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You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined

You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined below: BMW M5 RWD, 500hp, 0-100 in 4.7s MSRP = $110,000 Term = 24 months APR = 9% Down Payment = $0 Monthly Payments = $5,025.32 The amortized loan payments are a blend of interest and principal. What is the total amount of interest you would pay over the life of the loan? Assume that taxes are zero.

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