After visiting several automobile dealerships Richard selects the used car he wants He likes ifs $10,000 price but financing through the deafer is no bargain has $2 000 cash for a down payment so he needs an $8,000 lean In shopping at several banks for an installment loan to loams that interest on most automobile loans is quoted at add-on rates That is during the life of the lean. interest is paid on the full amount borrowed even though a portion of the principal has been paid back Richard borrows $8.000 for a period of four year at an add-on interest rate of 11 percent. What is the total interest on Richard's loan? (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.) What is the total interest on Richard's loan? (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.) What is the monthly payment? (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.) What is the annual percentage rate (APR)? (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.)