The following table shows annual rates for various types of loans in 2021. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.]

a) You purchased a new car using a 5-year $30,000 loan in 2021. With the same monthly payments, how much could you have financed had the interest rate been 9.00%? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.)

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b) With the same monthly payments, how much could you have financed had the interest rate been 9.50%? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.)

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\begin{tabular}{|c|c|c|c|c|c|} \hline \begin{tabular}{c} Loan \\ Type \end{tabular} & \begin{tabular}{c} 30 Year \\ Mortgage \end{tabular} & \begin{tabular}{c} 15-Year \\ Mortgage \end{tabular} & \begin{tabular}{c} New Car \\ Loan \end{tabular} & \begin{tabular}{c} Used Car \\ Loan \end{tabular} & \begin{tabular}{c} Credit \\ Cards \end{tabular} \\ \hline Rate & 3.03% & 2.30% & 9.20% & 9.45% & 13.99% \\ \hline \end{tabular}