Answer:
Monthly payments = $ 289.992
Total interest = $ 2399.520
Explanation:
Given formula of monthly payments,

Where,
P = present value,
r = annual interest rate,
n = number of months in a year ( i.e. 12 months ),
t = number of years,
Here,
P = $ 15,000,
t = 5 years,
r = 6% = 0.06
Hence, the monthly payment would be,



Also, the total interest of the loan = monthly payment × number of months - present value of loan
= 289.992 × 60 - 15000
= $ 2399.520