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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 $15,000 at 9 7 8 % interest if the term is the following. (Round your answers to the nearest cent.)

(a) three years

payment $

total interest $

(b) four years

payment $

total interest $

payment $

total interest $

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