From the calculations, the total amount paid for the SUV is $43,708.
What is compound interest?
The term compound interest has to do with an interest that is charged in both the principal and the interest.
In this case, the amount that was borrowed is $36,000 - $3000 = $33,000. Using the formula;
A = P(1 + r/n)^nt
P = $33,000
r = 4.2%
n = 52
t = 5 years
A = 33,000(1 + 0.042/52)^(52 * 5)
A = $40,708
Total amount paid = $40,708 + $3000 = $43,708
Learn more about compound interest:https://brainly.com/question/14295570?
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