Compute the monthly payments for a vehicle that costs $$15,200$ if you financed the entire purchase over $4$ years at an annual interest rate of $7\mathrm{.}50$ percent. Also, calculate the loan payments assuming rates of $6\mathrm{.}50$ percent and $8\mathrm{.}50$ percent. Compare the total amount spent on the vehicle under each assumption.

Note: Round intermediate computations to at least five $(5)$ decimal places.

Click on the table icon to view the Monthly Installment Loan Payment Factor $($MILPF$)$ table: $.$

The monthly payments for a vehicle that costs $$15,200$ if you financed the entire purchase over $4$ years at an annual interest rate of $7\mathrm{.}50\%$ is $

$($Round to the nearest cent.$)$

Monthly Installment Loan Tables $($$$1,000$ loan with interest payments compounded monthly$)$ Loan Maturity $($in months$)$

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