To help open up a restaurant, Rachel borrowed money from her credit union.

She took out a personal, amortized loan for$40,000, at an interest rate of6.15%

,with monthly payments for a term of8 years.

For each part, do not round any intermediate computations and round your final answers to the nearest cent.

If necessary, refer to thelist of financial formulas.

(a)Find Rachel's monthly payment.$

(b)If Rachel pays the monthly payment each month for the full term, find her total amount to repay the loan.$

(c)If Rachel pays the monthly payment each month for the full term, find the total amount of interest she will pay.