Wade Ellis buys a new car for $16,113.82. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2% interest for four years. (Round all answers to the nearest cent.) (a) Find his monthly payment. $ (b) Find the total interest. $ (c) Prepare an amortization schedule for the first two months of the loan. Payment Number Principal Portion Interest Portion Total Payment Balance 0       $ 1 $ $ $ $ 2 $ $ $ $

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