Car Payment Wendy has decided to buy a new car, She is able to pay cash of $2,300 upon delivery of the car and finances the remainder on a 3-year contract with an annual interest rate of 12 percent and payments at the end of each month of $450.

a. Determine the amount that Wendy would have been required to pay if she had been able to make full cash payment for the car.

b. What is the total amount of interest Wendy will pay over the life of the financing contract?