Question: please be clear with equations being used. Daniel Guiterrez wants to buy a used car that costs $10,340.A5% down payment is required. a. The used

please be clear with equations being used.

Daniel Guiterrez wants to buy a used car that costs $10,340.A5% down payment is required. a. The used car dealer offered him a three-year add-on interest loan at 4% annual interest. Find the monthly payment. b. Find the APR of the dealer's loan. Round to the nearest hundredth of 1%. c. His bank offered him a three-year simple interest amortized loan at 52% interest, with no fees. Find the APR, without making any calculations. d. Which loan is better for him? Use the solutions to parts (b) and (c) to answer. No calculations are required

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