Question

Suppose that you borrow $10,000 for three years at 7% toward the purchase of a car. \text { Use PMT }=\frac{P\left(\frac{r}{n}\right)}{1-\left(1+\frac{r}{n}\right)^{-n t}} to find the monthly payments and the total

interest for the loan. The monthly payment is $ ___________ The total interest for the loan is $ _______

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