Suppose that you borrow $12,000 for three years at 5% toward the purchase of a car. Use PMT= to find the monthly payments and the total interest for the loan. .... The monthly payment is $ 359.64 (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $947.04 (Use the answer from part (a) to find this answer. Round to the nearest cent as needed.) PH) [1-(₁+) -nt

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