Final answer:
Mari will have paid a total amount that includes interest over the 36 months in addition to the principal of $15,000. To determine the exact total, we would need to calculate the monthly payment and multiply it by 36, and then choose the closest option provided.
Step-by-step explanation:
The question is about calculating the total amount Mari actually paid for her car after completing all the payments of her auto loan, which had a principal amount of $15,000, a loan term of 36 months, and an annual interest rate of 6.71%. The total payment can be calculated using an amortization formula or a financial calculator. Since the exact monthly payment amount is not provided, the question assumes that we will compute the monthly payment first and then multiply by the number of payments (36) to find the total amount paid over the life of the loan.
To find the monthly payment, we would use the loan amortization formula or a financial calculator, which would allow us to find the monthly payment (let's denote it as 'M'). Once we have 'M', we multiply it by 36 (the number of months) to get the total amount paid ('Total').
The answer choices provided suggest specific total amounts paid. Without calculating 'M' precisely, we cannot determine the exact total amount paid, but we know that it will be more than the principal of $15,000 due to the interest added over time. Option 1 is immediately incorrect as it is the principal amount without any interest. Among the other options, we would select the one that most closely aligns with our calculations for the total amount paid, considering the interest accrued over the 36 months.