Question: Please answer in full detail and solution 6. John would like to borrow money to purchase a new car. He is willing to make weekly

Please answer in full detail and solution

6. John would like to borrow money to purchase a new car. He is willing to make weekly payments of $100 over a period of 7 years to pay off the loan. The lender will charge him interest at a rate of 1.3% per year compounded weekly. With these conditions: a. what price of car can he afford? [4] b. How much interest will he pay over the course of the loan? [1]

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