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 $11,000 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	$

(c) five years

payment	$
total interest	$