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Go to the St. Louis Federal Reserve FRED database and find latest data on the interest rate on a fouryear auto loan (TERMCBAUTO48NS). Assume that

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Go to the St. Louis Federal Reserve FRED database and find latest data on the interest rate on a fouryear auto loan (TERMCBAUTO48NS). Assume that you borrow $20,000 to purchase a new automobile and that you finance it with a fouryear loan at the most recent interest rate given in the database. If you make one payment per year for four years, what will the yearly payment be? What is the total amount that will be paid out on the $20,000 loan

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