Investigate the effect of the interest rate on simple interest amortized auto loans by finding the monthly payment and the total interest for a four-year loan of $16,000 at the following interest rates. (Round all answers to the nearest cent.) (a) 7.5% $ 59,447.25 total interest $ 43,447.25 payment (b) 7.75% payment total interest (c) 8.0% payment total interest (d) 9.0% payment total interest %24 %24

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