To finance your car, you have decided to take a car loan in the

amount of $15,000 from your credit union. You will pay off this loan over 60

months.

(a) If the required monthly payment is $322.41, what is the effective annual

interest rate of this car?

(b) If you want to pay off the remaining load in a lump-sum after the 30th

payment, what is the lump sum?

(c) How much of the 4th payment is the interest payment and how much is

the principal?

(d) How much of the 44th payment is the interest payment and how much is

the principal?