1a. If you take out a car loan for $30,000 for 6 years at 4.5% Simple...

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1a. If you take out a car loan for $30,000 for 6 years at 4.5%Simple interest what is the monthly payment? and How much will youpay in total for interest at the end of the 6 years?
1b. If you take out a car loan for $30,000 for 6 years at 4.5%Compound Interest what is the monthly payment? and How much willyou pay in total for interest at the end of the 6 years?

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1a Interest is determined at simple interest rate and add on the amount of the loan Amount of loan and interest is the future value of the loan FVP1rt P amount of the car loan30000 r45 or 0045 t6yrs See Answer

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1a. If you take out a car loan for $30,000 for 6 years at 4.5%Simple interest what is the monthly payment? and How much will youpay in total for interest at the end of the 6 years?1b. If you take out a car loan for $30,000 for 6 years at 4.5%Compound Interest what is the monthly payment? and How much willyou pay in total for interest at the end of the 6 years?