[0/0.1 Points DETAILS PREVIOUS ANSWERS TANAPMATH5 4,3.032. MY NOTES PRACTICE ANOTHER Joe secured a loan of $15,000 four years ago from a bank for use toward his college expenses. The bank charges interest at the rate or 4W/year compounded monthly on his loan. Now that he has graduated from college, Joe wishes to repay the loan by amortizing it through monthly payments over 15 yr at the same interest rate. Find the size of the monthly payments he will be required to make. (Round your answer to the rearest cont.) $ 89.83 X Need Help? Head It Submit Answer 13. [0/0.1 Points) DETAILS PREVIOUS ANSWERS TANAPMATH5 4.3.036. MY NOTES PRACTICE ANOTHER Darla purchased a new car during a special sales promotion by the manufacturer. She secured a loan from the manufacturer in the amount of $20,000 at a rate of 85/year compounded monthly. Her bank is now charging 12 s/year compounded manthly for new car loans. Assuming that each loan would be amortized by 35 ecual monthly installments, determine the amount of interest she would have paid at the end of 3 yr for each loan. How much less will she have paid in interest payments over the life of the loan by borrowira from the manufacturer instead of her bank? (Round your answers to the nearest cent.) Interest paid to manufacturer $ 888.38 X interest paid to bank savings $ Need Help? Read 14. [O/0.1 Points] DETAILS PREVIOUS ANSWERS TANAPMATH5 4.3.039. MY NOTES PRACTICE ANOTHER The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $140,000 and was to amortized in 240 equal monthly installments at an interest rate of 10%/Year compounded monthly. The new loan they expect to secure is to be amortized over the same period at an Interest rate of 8%/year compounded monthly. How much less can they expect to pay over the life of the loan in Interest payments by refinancing the loan at this time (Round your answer to the nearest cent.) X $ 2961779 Need Help? Read It