Please help me with an initial post for my discussion of the following:

Using Simple Interest

1. Determine an item you would like to purchase but cannot afford without taking out a loan. Be creative. Think of something you have always dreamed of. Include a description of this item as well as its cost. Feel free to include a Web link so your classmates can see your dream item.
2. Using a simple interest rate of 4.5%, determine how much interest you would pay to take a loan out for the cost of this item over 72 months. Then determine the final cost of this item, including interest.
3. Assume you keep the interest rate the same but shorten the loan term to 24 months. Determine the amount of interest you would have to pay under the new loan terms. What is the final cost of this item now, including interest?
4. Determine the amount of money you would save by shortening the terms of the loan. Discuss one reason shortening the term of the loan may not be practical despite the money saved.