1. (a) A car loan for $19,500 has an interest rate of 4.25% and is amortized over 60 months. What is the monthly payment on the loan?
   1. $451.23
   2. $180.37
   3. $361.33
   4. $467.97 1(b)Same facts as #1a above. What is the balance of the loan after 3 years of payments?
      1. $3,669
      2. $8,299
      3. $4,100.79
      4. $4,830.87 1(c) Same facts as #1a above. How long would it take to pay off 80% of the loan?
         1. 45 months
         2. Just under 29 months
         3. About 46 months
         4. About 49 months