Compute the monthly payments for a vehicle that costs $13,700 if you financed the entire purchase over four years at an annual interest rate of 6 percent. Also calculate the loan payments assuming rates of 5 percent and 7 percent. Compare the total amount spent on the vehicle under each assumption.

The monthly payments for a vehicle that costs $13,700 if you financed the entire purchase over four years at an annual interest rate of 6 percent is $nothing.