Barry Wood wants to buy a used car that costs $4,000. He has two possible loans in mind. One loan is through the car dealer; it is a three year add-on interest loan at 6 and requires a down payment of $300 The second is through his credit union;t is a three-year simple interest amortized loan at 8.5 and requires a 10% down payment. (Round your answers to the nearest cent.) (a) Find the monthly payment for each loan dealer Credit union (b) Find the total interest paid for each loan dealer credit union (C) Which loan should Barry choose? Why? He should choose the credit union simple interest loan because he pays less interest He should choose the car dealer add-on interest loan because he pays less interest Need Help? Watch