Name Date Section 8.6 - Worksheet Cars Use PMT п Round to the nearest dollar. nt 1) Suppose that you borrow $10,000 for four years at 8% toward the purchase of car. Find the monthly payments and the...

Extracted text: Name Date Section 8.6 - Worksheet Cars Use PMT п Round to the nearest dollar. nt 1) Suppose that you borrow $10,000 for four years at 8% toward the purchase of car. Find the monthly payments and the total interest for the loan. 2) Suppose that you borrow $15,000 for a new car. You can select on the following loans, each requiring regular monthly payments: Installment Loan A: three-year loan at 5.9% Installment Loan B: five-year loan at 6.9% Find the monthly payments and the total interest for both Loan A and Loan B. Installment Loan A: three-three year loan 5.9% Total interest Loan A: Installment Loan B: five-year loan at 6.9% Total interest Loan B: Compare the monthly payments and the total interest for the two loans.