Chris bought a new car for $12,500. He made a $3,000 down payment and financed the rest at an annual interest rate of 14.5% for 36 months (3 years). How much less would his total interest be for the same loan for 24 months (2 years)? A. $1,387.50 B. $1,377.50 C. $1,367.50 D. $1,357.50

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