16. [-/1 Points] DETAILS TANAPMATH7 4.2.025. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Lup made a down payment of $9000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 8%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $470/month for 60 months. What is the cash price of the car? (Round your answer to the nearest cent.) Need Help? Read It Watch It 17. [-/1 Points] DETAILS TANAPMATH7 4.3.032. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Joe secured a loan of $14,000 four years ago from a bank for use toward his college expenses. The bank charges interest at the rate of 4%/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 10 years at the same interest rate. Find the size of the monthly payments he will be required to make. (Round your answer to the nearest cent.) Need Help? Read It Watch It