ALEKS: Serena Jones Done Ratios, Proportions, and Percents Computing the total cost and interest for a loan $$ 0 / 5 $$ Serena Español To pay for an $$ \$ 18,100 $$ truck, Leila made a down payment of $$ \$ 4500 $$ and took out a loan for the rest. On the monthly payments of $$ \$ 301.04 $$ for 4 years. (a) What was the total amount Leila ended up paying for the truck (including the down payment and monthly payments)? $$ \$ $$ $$ \square $$ (b) How much interest did Leila pay on the loan? $$ \$ $$ $$ \square $$

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To find the total amount Leila ended up paying for the truck, including the down payment and monthly payments, we need to calculate the total cost of the loan and add it to the down payment.

Given:
- Down payment: $4500
- Loan amount: $18,100 - $4500 = $13,600
- Monthly payment: $301.04
- Number of years: 4

First, let's calculate the total number of monthly payments:
$$ \text{Total number of payments} = 4 \text{ years} \times 12 \text{ months/year} = 48 \text{ months} $$

Next, we can calculate the total amount Leila paid for the loan:
$$ \text{Total amount paid for loan} = \text{Monthly payment} \times \text{Total number of payments} $$

Now, we can calculate the total amount Leila ended up paying for the truck:
$$ \text{Total amount paid for truck} = \text{Down payment} + \text{Total amount paid for loan} $$

Let's calculate the total amount Leila paid for the truck:
$$ \text{Total amount paid for truck} = \$4500 + \$301.04 \times 48 $$

Now, let's calculate the total amount Leila paid for the truck:
$$ \text{Total amount paid for truck} = \$4500 + \$14449.92 $$

$$ \text{Total amount paid for truck} = \$18949.92 $$

Therefore, the total amount Leila ended up paying for the truck is $18,949.92.

To find the interest Leila paid on the loan, we need to subtract the loan amount from the total amount paid for the truck:
$$ \text{Interest paid} = \text{Total amount paid for truck} - \text{Loan amount} $$

Let's calculate the interest Leila paid on the loan:
$$ \text{Interest paid} = \$18949.92 - \$13600 $$

$$ \text{Interest paid} = \$5349.92 $$

Therefore, the interest Leila paid on the loan is $5,349.92.
Leila paid a total of $18,949.92 for the truck, which includes a down payment of $4,500 and $14,449.92 in monthly payments. She paid $5,349.92 in interest on the loan.

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