Question: Question 1 1.5 / 6 pts DD buys a five-year-old used car from Cars-R-Us for $7,999. She puts $400 down and finances the rest through

Question 1 1.5 / 6 pts DD buys a five-year-old used car from Cars-R-Us for $7,999. She puts $400 down and finances the rest through the dealership at 7 7% add-on (simple) interest. He agrees to make thirty-six monthly payments. Find the size of each payment. (round to the nearest cent) Loan amount P = $ 7599 Interest ] -$ 77 Amount to be repaid, Add-On - $ 48 76 Payment Amount = $ 295

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