Nyla has visited multiple car dealerships and finally found a used car that she likes for $10,000. However, she finds that the dealer's financing options are not affordable. Fortunately, her mother gave her $2,000 as a down payment, which means she needs to take out an $8,000 loan. Nyla begins shopping around at different banks for an installment loan and discovers that most car loans have add-on interest rates. This means that interest will be charged on the entire amount borrowed, even though a portion of the principal has already been paid back. Eventually, she secures an $8,000 loan at her credit union bank for a four-year period at an add-on interest rate of 10 percent.

a. What is the total interest on Nylas loan?

b. What is the total cost of the car?

c. What is the monthly payment?

d. What is the annual percentage rate (APR)?