Wade Ellis buys a new car for $16,135.79. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2

(a) Find his monthly payment. interest for four years. (Round your answers to the nearest cent.)

(b) Find the total interest.

(c) Prepare an amortization schedule for the first two months of the loan.

Payment Number	Principal Portion	Interest Portion	Total Payment	Balance
0				$
1	$	$	$	$
2	$	$	$	$