Part 1. You purchase a car that is $41,295. You choose the loan option 4.5% interest...

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Part 1. You purchase a car that is $41,295. You choose the loan option 4.5% interest rate on a 48- month (4 year) loan. *Please show all work and calculations/screenshots on Desmos calculator. Part 1. Step 1. Assuming there is no down payment, calculate your monthly payments over the life of the loan. That is, determine your monthly loan payment. Step 2: Still assuming there is no down payment, calculate your total payments made over the life of the loan. That is, determine the total amount that you will pay for the loan. Step 3: Using the information, you acquired in steps 1 and 2, calculate the amount of interest you are paying over the life of the loan. Part 2. Step 4. Assuming you make a 20% down payment, calculate your monthly payments over the life of the loan. That is, determine your monthly loan payment. Step 5: Still assuming you make a 20% down payment, calculate your total payments made over the life of the loan. That is, determine the total amount that you will pay for the loan. Step 6: Using the information, you acquired in steps 4 and 5, calculate the amount of interest you are paying over the life of the loan, given that you made a 20% down payment before acquiring the loan. Step 7: Calculate the absolute difference in interest from making no down payment to making a 20% down payment. That is, subtract the values in steps 3 and 6. Then take the absolute value of that difference. Part 1. You purchase a car that is $41,295. You choose the loan option 4.5% interest rate on a 48- month (4 year) loan. *Please show all work and calculations/screenshots on Desmos calculator. Part 1. Step 1. Assuming there is no down payment, calculate your monthly payments over the life of the loan. That is, determine your monthly loan payment. Step 2: Still assuming there is no down payment, calculate your total payments made over the life of the loan. That is, determine the total amount that you will pay for the loan. Step 3: Using the information, you acquired in steps 1 and 2, calculate the amount of interest you are paying over the life of the loan. Part 2. Step 4. Assuming you make a 20% down payment, calculate your monthly payments over the life of the loan. That is, determine your monthly loan payment. Step 5: Still assuming you make a 20% down payment, calculate your total payments made over the life of the loan. That is, determine the total amount that you will pay for the loan. Step 6: Using the information, you acquired in steps 4 and 5, calculate the amount of interest you are paying over the life of the loan, given that you made a 20% down payment before acquiring the loan. Step 7: Calculate the absolute difference in interest from making no down payment to making a 20% down payment. That is, subtract the values in steps 3 and 6. Then take the absolute value of that difference.