You want to buy a new car for $32,000 and accept the dealers financing offer of 5.9% compounded monthly for 60 months. Unfortunately, you can only afford monthly loan payments of $300. However, the dealer allows you to pay off the rest of the loan in a one time lump sum payment at the end of the loan. How much do you have to pay to the dealer when the lump sum is due?

Answer: $22,071.75 Please show steps and financial caluclator inputs if possible