Wade Ellis buys a new car for $16,377.62. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1 2 % interest for four years. (Round your answers to the nearest cent.)

(a) Find his monthly payment. $ (b) Find the total interest. $

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

Payment number	Principle Portion Interest	Portion Total Payment	Total Payment	Balance
0	$	$	$	$
1	$	$	$	$
2	$	$	$	$