To calculate the total cost of the car after financing, we would use the formula for the total payment on a loan, which includes principal and interest. The monthly payment can be calculated using the formula for an amortizing loan, but for simplicity, we can estimate:
Total interest paid over 4 years (48 months) at 3.5% on $18,489 is approximately $1,362.72, making the total cost of the car about $19,851.72.
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