After visiting several automobile dealerships, Richard selects the car he wants. He likes its $$14,500$ price, but financing through the dealer is no bargain. He has $$2,900$ cash for a down payment, so he needs an $$11,600$ loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add$-$on rates. That is$,$ during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $$11,600$ for a period of five years at an add$-$on interest rate of $10$ percent.

What is the total interest on Richard$$s loan?

What is the total cost of the car?

What is the monthly payment?

Note: Do not round your intermediate calculations.

What is the annual percentage rate $($APR$)?$

Note: Enter your answer as a percent rounded to $2$ decimal places.