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Suppose that you borrow $14,000 for five years at 7% toward the purchase of a car. Use PMT=- to find the monthly payments and the
Suppose that you borrow $14,000 for five years at 7% toward the purchase of a car. Use PMT=- to find the monthly payments and the total interest for the loan The monthly payment is 5 (Do nol round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is s (Use the answer from part (a) to find this answer. Round to the nearest cent as needed.)
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