You are trying to see if you can afford buying a new car so you want to run some numbers. You are looking at a car that costs $22,673.41 and you have a car to trade in that would equate to an 8% down payment. You are able to obtain a simple interest loan for the remainder at 11.45% interest for five years.

a. what is trade in value of your current car?

b. Determine the monthly payment with a formula.

c. find the total amount of interest you will pay.