You Have Borrowed $70 000 to Buy a Porsche

You have borrowed $70 000 to buy a Porsche.You plan to make monthly payments over a 15-year period.The bank has offered you a 9% interest rate compounded monthly.Calculate the total amount of interest dollars you will pay the bank over the life of the loan.Round to the nearest dollar and assume end-of-month payments.

A) $47 451
B) $51 644
C) $54 776
D) $57 798