Mathematics, 15.06.2021 01:10 joeylozier15

PLEASE HELP Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced.

You borrow $16,000 with a term of four years at an APR of 5% to buy a truck. What is your monthly payment? (Round your answer to the nearest cent.)
$ ___

How much total interest is paid? (Round your answer to the nearest cent.)
$

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