car has a $$23,558$ including plates and taxes. because he cant afford to pay cash he is using his old car and cash for $$8500$ down. bill plans on financing the rest $$20,000,60$ month loan at a simple interest rate of $4$ percent. whats his monthly payment? whats the total interest bill will pay in the first year of the loan? how much interest will he pay over $60$ month life of the loan? what is the apr on this loan?