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Use the information for the question(s) below.
Two years ago you purchased a new SUV. You financed your SUV for 60 months (with payments made at the end of the month) with a loan at 5.9% APR. Your monthly payments are $617.16 and you have just made your 24th monthly payment on your SUV.
-Assuming that you have made all of the first 24 payments on time,how much interest have you paid over the first two years of your loan?


Definitions:

Critical Thinking

An aim to systematically scrutinize and appraise a matter for making a decision.

Challenging Assumptions

The act of questioning and critically evaluating the underlying premises on which beliefs and decisions are based.

Accepting Disposition

Describes a personality trait characterized by openness, tolerance, and a readiness to embrace experiences, perspectives, and changes.

Accurate Recollections

The ability to remember past events precisely as they happened.

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