Colin took out a loan with a principal of $32,800. After five years, the interest and principal totaled $48,872. If Colin made monthly payments of $816 for five years until the loan was paid off, how much did Colin pay in service charges?

Colin made 5 × 12 = 60 monthly payments, totaling 60 × $816 = $48,960. The principal and interest together totaled $48,872, so the service charges were $48,960 − $48,872 = $88. The correct choice is $88.

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