Barry Wood wants to buy a used car that costs$5,000. He has two possible loans in mind. One loan is through the car dealer; it is a three-year add-on interest loan at6%and requires a down payment of $300. The second is through his credit union; it is a three-year simple interest amortized loan at9.5%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 car dealer add-on interest loan because he pays less interest.He should choose the credit union simple interest loan because he pays less interest.