Sarah negotiated a price of $25,150.00for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of13%. Her credit union offered her a7-year amortized loan for the remaining amount at a rate of2%.

How much money will be paid in interest?

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P

What will the monthly payment be?

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P

How much will the car cost, in total?

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If she got a simple interest loan at the same interest rate and time, how much would she pay in interest?