Tan Company purchased a large server for $16,500. The company paid 45% of the value as a down-payment and received a loan for the balance at 6.72% compounded monthly. The loan has a term of 4 years and Tan Company had to make month-end payments until the loan was settled. a. Calculate the size of the month-end payments.

$392.97

$216.14

$199.84

$212.29

b. What was the total amount paid to settle the loan?

$18,862.56

$8,542.32

$10,374.46

$10,189.92

c. Calculate the total amount of interest paid throughout the term of the loan.

$1,299.46

$9,787.56

-$558.68

$1,114.92