Compute the monthly payments for a vehicle that costs $14,300 if you financed the entire purchase over four years at an annual interest rate of 8 percent. Also calculate the loan payments assuming rates of 7 percent and 9 percent. Compare the total amount spent on the vehicle under each assumption.

The monthly payments for a vehicle that costs $14,300 if you financed the entire purchase over four years at an annual interest rate of 8 percent is

The total amount spent on the vehicle if financed for four years at an annual rate of 8 percent is

The monthly payments for a vehicle that costs $14,300 if you financed the entire purchase over four years at an annual interest rate of 7 percent is

The total amount spent on the vehicle if financed for four years at an annual rate of 7 percent is

The monthly payments for a vehicle that costs $14,300 if you financed the entire purchase over four years at an annual interest rate of 9 percent is

The total amount spent on the vehicle if financed for four years at an annual rate of 9 percent is

36 72 Monthly Installment Loan Tables ($1,000 loan ith interest payments compounded monthly) i 6 12 18 24 30 48 60 84 96 4.00% 168.62 85.15 57.33 43.42 35.08 29.52 22.58 18.42 15.65 13.67 12.19 4.25% 168.74 85.26 57.44 43.54 35.19 29.64 22.69 18.53 15.76 13.78 12.31 4.50% 168.86 85.38 57.56 43.65 35.31 29.75 22.80 18.64 15.87 13.90 12.42 4.75% 168.98 85.49 57.67 43.76 35.42 29.86 22.92 18.76 15.99 14.02 12.54 5.00% 169.11 85.61 57.78 43.87 35.53 29.97 23.03 18.87 16.10 14.13 12.66 5.25% 169.23 85.72 57.89 43.98 35.64 30.08 23.14 18.99 16.22 14.25 12.78 5.50% 169.35 85.84 58.01 44.10 35.75 30.20 23.26 19.10 16.34 14.37 12.90 5.75% 169.47 85.95 58.12 44.21 35.87 30.31 23.37 19.22 16.46 14.49 13.02 6.00% 169.60 86.07 58.23 44.32 35.98 30.42 23.49 19.33 16.57 14.61 13.14 6.25% 169.72 86.18 58.34 44.43 36.09 30.54 23.60 19.45 16.69 14.73 13.26 6.50% 169.84 86.30 58.46 44.55 36.20 30.65 23.71 19.57 16.81 14.85 13.39 6.75% 169.96 86.41 58.57 44.66 36.32 30.76 23.83 19.68 16.93 14.97 13.51 7.00% 170.09 86.53 58.68 44.77 36.43 30.88 23.95 19.80 17.05 15.09 13.63 7.25% 170.21 86.64 58.80 44.89 36.55 30.99 24.06 19.92 17.17 15.22 13.76 7.50% 170.33 86.76 58.91 45.00 36.66 31.11 24.18 20.04 17.29 15.34 13.88 86.99 15.59 15.71 8.00% 8.25% 8.50% 8.75% 9.00% 170.58 170.70 170.82 170.95 171.07 87.10 87.22 87.34 59.14 59.25 59.37 59.48 59.60 45.23 45.34 45.46 45.57 45.68 36.89 37.00 37.12 37.23 31.34 31.45 31.57 31.68 31.80 24.41 24.53 24.65 24.77 24.89 20.28 20.40 20.52 20.64 20.76 17.53 17.66 17.78 17.90 18.03 15.84 15.96 16.09 14.14 14.26 14.39 14.52 14.65 87.45 37.35