Suppose you see a car with an advertised price of \( \$ 14,100 \) at \( \$ 410.83 \) per month for 4 years. What is the amount of interest paid? (Round your answer to the nearest cent.) \( \$ \)

To find the amount of interest paid, first calculate the total amount paid over the term of the loan and then subtract the advertised price (which acts as the principal). Step 1: Find the total amount paid. The monthly payment is $410.83, and the term is 4 years. Since there are 12 months per year:   Total amount paid = $410.83 × (4 years × 12 months/year)     Total amount paid = $410.83 × 48     Total amount paid = $19,719.84 Step 2: Calculate the interest paid. Subtract the principal (advertised price) from the total amount paid:   Interest paid = Total amount paid − Advertised price     Interest paid = $19,719.84 − $14,100     Interest paid = $5,619.84 Thus, the amount of interest paid is $5,619.84.