Compute the monthly payments for a vehicle that costs $14,400 if you financed the entire purchase over 4 years at an annual interest rate of 7.50 percent. Also, calculate the loan payments assuming rates of 6.50 percent and 8.50 percent. Compare the total amount spent on the vehicle under each assumption.

The monthly payments for a vehicle that costs $14,400 if you financed the entire purchase over 4 years at an annual interest rate of

7.50% is $ enter your response here.

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