Compute the amount of the monthly payment on a 3-year, $23,000 car loan with an annual interest rate of 8%. Principal Term 1 4 Interest rate Payments per year Term 2 $23,000 3 years 8% 12 4 years O Required: 1 a. Compute the amount of each of the monthly car payments assuming the annual interest rate is 8%, and the term of the loan is 3 years. 2 3 b. Compute the amount of each of the monthly car payments assuming the annual interest rate is 8%, and the term of the loan is 4 years. c. How much total interest is paid over the life of the car loan assuming the loan term is 3 years? +$1,962.93 $1,886.93