Solve this finance Not use excel 1. Mary Smith took a car loan of $20,000 to make 60 equal monthly payments. The interest compounds monthly. (a) Calculate the monthly payment for Mary, if the nominal...

Solve this finance

Not use excel

1. Mary Smith took a car loan of $20,000 to make 60 equal monthly payments. The interest compounds monthly.

(a) Calculate the monthly payment for Mary, if the nominal interest is 9% per year.
(b) (How much interest would Mary pay for taking the loan?

(c) Immediately after making the 20th payment, if she wants to pay off the car loan, how much does she need to pay?