Wade Ellis buys a new car for $16, 787.28. He puts 10% down and obtains a simple interest amortized loan for the rest at 1112% interest for four years. (Round your answers to the nearest cent.)(a) Find his monthly payment.$ Incorrect: Your answer is incorrect. (b) Find the total interest.$ Incorrect: Your answer is incorrect.(c ) Prepare an amortization schedule for the first two months of the loan.

Wade Ellis buys a new car for $16, 787.28. He puts 10% down and obtains a simple interest amortized loan for the rest at 1112% interest for four years. (Round your answers to the nearest cent.)(a) Find his monthly payment.$ Incorrect: Your answer is incorrect. (b) Find the total interest.$ Incorrect: Your answer is incorrect.(c ) Prepare an amortization schedule for the first two months of the loan.

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...

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