Final answer:
The total cost of the loan with monthly payments of $353.48 for 48 months is $16,967.04.
Step-by-step explanation:
To determine the total cost of Mabelle Descartes' loan, we will multiply the monthly payment by the number of months she will be making payments. The loan is for $14,790.00 with monthly payments of $353.48 for 48 months.
Using this information, we can calculate the total cost of the loan as follows:
Total Cost of the Loan = Monthly Payment × Number of Payments
Total Cost of the Loan = $353.48 × 48
Total Cost of the Loan = $16,967.04
So, the total cost of the loan with a 6.9% annual interest rate over the term of 48 months will be $16,967.04.