Question: ( 1 4 - point ) George bought a new car with a 4 . 1 % interest rate for 5 years. The loan amount

(14-point) George bought a new car with a 4.1% interest
rate for 5 years. The loan amount is $35,000.
a. What is the monthly payment on the loan?
b. What is the total amount he will pay over the life of
the loan?
c. How much interest will he pay over the life of the
loan?
d. What is the interest portion of the 48th payment?
e. What is the balance after the 48th payment?
f. What is the interest portion of the first 12 payments?
g. What is the interest portion of the last 12 payments?
(14-point) George bought a new car with a 4.1% interest rate

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