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Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $12,000 at 9 7/8
(a) three years interest if the term is the following. (Round your answers to the nearest cent.)%
payment | $ |
total interest | $ |
(b) four years
payment | $ |
total interest | $ |
(c) five years
payment | $ |
total interest | $ |
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