Example 8: A metal building costing $39,995.00 was purchased from Bob's Buildings. A down payment of...

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Example 8: A metal building costing $39,995.00 was purchased from Bob's Buildings. A down payment of $7,000.00 was made at the time of purchase, and it was agreed that 36 monthly payments of $1,075.00 would be made to pay off the amount financed. a. Compute the total installment cost. b. Calculate the finance charge. c. Calculate the monthly finance charge. d. Compute the amount saved by paying off the loan after 20 payments have been made. e. Compute the payoff amount if the loan is to be paid off after 20 payments have been made. Example 8: A metal building costing $39,995.00 was purchased from Bob's Buildings. A down payment of $7,000.00 was made at the time of purchase, and it was agreed that 36 monthly payments of $1,075.00 would be made to pay off the amount financed. a. Compute the total installment cost. b. Calculate the finance charge. c. Calculate the monthly finance charge. d. Compute the amount saved by paying off the loan after 20 payments have been made. e. Compute the payoff amount if the loan is to be paid off after 20 payments have been made.