Investigate the effect of the interest rate on simple interest amortized auto loans by finding the monthly payment and the total interest for a four-year loan of $17,000 at the following interest rates. (Round all answers to the nearest cent.) 7.5% payment $ 1416.67 X total interest $ (b) 7.75% payment total interest $ $ (c) 8.0% payment total interest $ 467.5 $ 5440 X x (d) 9.0% payment $ 48167 X total interest $ 6120 x Need Help? Watch Wade Ellis buys a new car for $16,827.86. He puts 10% down and obtains a simple interest amortized loan for the rest at 11% interest for four years. (Round your answers to the nearest cent.) (a) Find his monthly payment. $ (b) Find the total interest. 5 (c) Prepare an amortization schedule for the first two months of the loan. Payment Number Principal Portion Interest Portion Total Payment Balance 0 $ 1 $ $ 5 5 $ 2 5 $ Need Help? Watch Masterit Submit Answer Ten