Nguyen Barber
07/11/2024 · High School

\begin{tabular}{l} Note: Please make sure to properly \\ format your answers. All dollar figures \\ in the answers need to include the \\ dollar sign and any amount over 1,000 \\ should include the comma ( \( \$ 2,354.67 \) ). \\ All percentage values in the answers \\ need to include a percentage sign (\%). \\ For all items without specific rounding \\ instructions, round your answers to two \\ decimal places, show both decimal \\ places (5.06). \\ What is the total interest on a 10-year \\ \( 6.1 \% \) loan with a principal of \( \$ 32,000 \) ? \\ \( \begin{array}{l}\text { (Round monthly payment calculations } \\ \text { to } 2 \text { decimal places.) }\end{array} \) \\ \hline\end{tabular}

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The total interest on the loan is \( \$19,520 \).

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