Monthly Payments and Finance Charges or an Add$-$on Rate Loan

following equation to calculate the finance charge and monthly payment for these three options. Round your answers to the nearest cent.

$I=PRT$

where

$I=$ Interest or finance charges

$P=$ Principal amount borrowed

$R=$ Rate of interest $($simple$,$ add$-$on$,$ or discount rate$)$

$T=$ Time of loan in years

For the $6\mathrm{.}0$ percent loan the finance charge would be $

For the $6\mathrm{.}0$ percent loan the monthly payment would be $

For the $6\mathrm{.}5$ percent loan the finance charge would be $

$$

For the $6\mathrm{.}5$ percent loan the monthly payment would be $

$$

For the $7\mathrm{.}3$ percent loan the finance charge would be $

$$

For the $7\mathrm{.}3$ percent loan the monthly payment would be $