Question: PROBLEM # 4 PAGE 4 Suppose you are planning to buy a new car. The car costs $25,000. A interest rate of 5.4% compounded monthly.

PROBLEM # 4 PAGE 4 Suppose you are planning to buy a new car. The car costs $25,000. A interest rate of 5.4% compounded monthly. You expect to pay off the loan in 6 years by a sequence of monthly payments. bank agrees to lend you the money but charges an (A) [10 points) Find the monthly payment. Round your answer to the nearest cent. (B) [10 points] What is the total interest you will pay out of your pocket in order to payoff the whole loan? Round your answer to the nearest cent. (C) [10 points] What is the balance after 3 years, right after your 36th payment

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