Note: This question will be graded manually since Moodle does not have the capability of doing it. Therefore, please do not take into account whether the computer indicates a correct or incorrect answer. The "Fly By Night" Used Car Lot uses the following to illustrate their 10.6% finance plan on a car paid over 4 years. Cost of the car: 10.6% finance charge: Total cost: $13700 $5808.8 $19508.8 (that is, 10.6%/year X S13700 x 4 years) $19508.8 - S406.43. Monthly payment: The first payment must be made one month after purchase. On the other hand, if you pay cash the dealer will offer you a discount of 5% of the cost of the car. What is the true interest rate compounded monthly being charged