9,10,11,12

9. Steve buys a new car for $18,399. If he puts $3,000 down, what will be his car payment if his credit union offers him a 1.9% simple interest add-on car loan for 5 years? $287.03 10. If Steve hears about a new program that offers 1.5% on a 5 year amortized simple interest loan, should he stay with the credit union loan or try the new program? New program payment $266.55 11. Assuming Steve goes with the new program, create the first 3 rows of the amortization schedule. Pymt # Principal portion Interest portion Total payment Balance 0 $15,399 $247.30 $19.25 $266.55 $15.151.70 You finish 12. What will be the prepay amount if Steve decides to pay off the car after exactly 3 years? Assume there is no prepayment penalty. $6,298.62