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l Mario purchased a new car. After the down payment. he owed $48,500. He was able to secure a loan at 4.65% compounded quarterty. He
l Mario purchased a new car. After the down payment. he owed $48,500. He was able to secure a loan at 4.65% compounded quarterty. He plans to pay the car off over a period of years With a payment at the end of every month. (8 marks) a) Determine the amount of the monthly payment. (Round to two decimal places.) {7 marks) WY: av: N: \"Y: PMT: FV = b) Determine the total amount of interest paid on the loan. {1 mark) Interest
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