1) Chris is borrowing $8,500 for 5 years at 10%. payments are made on a monthly basis, which are determined using the add-on method. How much interest will Chris pay on the loan if it is held for the full five year term?

2) Now find Chris's monthly payments if he borrows $8,500 for 5 years at 10% when monthly payments are are determined using the add-on method.

3) What are Chris' monthly payments if he borrows $8,500 for 5 years at APR of 10% assuming it is an installment lain