$8\mathrm{.}6$ Cars

Suppose that you borrow $$17,000$ for $5$ years at $6\%$ toward the purchase of a car. Use

PMT $=\frac{P(\frac{r}{n})}{1-(1+\frac{r}{n}{)}^{-nt}}$ to find the monthly payments and the total interest for the loan.

The monthly payment is $

$($Do not round until the final answer. Then round to the nearest cent as needed.$)$

The total interest for the loan is $

$($Use the answer above to find this answer. Round to the nearest cent as needed.$)$

You MUST show your work to get full credit.