Question: 6. [-14 Points] DETAILS TANAPMATH7 4.3.023. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The price of a new car is $36,000. Assume that an individual

6. [-14 Points] DETAILS TANAPMATH7 4.3.023. MY NOTES ASK YOUR TEACHER

6. [-14 Points] DETAILS TANAPMATH7 4.3.023. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The price of a new car is $36,000. Assume that an individual makes a down payment of 25% toward the purchase of the car and secures financing for the balance at the rate of 5%/year compounded monthly. (Round your answers to the nearest cent.) (a) What monthly payment will she be required to make if the car is financed over a period of 36 months? Over a period of 72 months? 36 months $ 72 months $ (b) What will the interest charges be if she elects the 36-month plan? The 72-month plan? 36-month plan 72-month plan $ Need Help? Read It

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