Question: Question 4 points Save Answer You are financing a car worth $26,490.4 with tax included. Interest rates are 6.296 compounded daily. Payments are monthly and

 Question 4 points Save Answer You are financing a car worth

Question 4 points Save Answer You are financing a car worth $26,490.4 with tax included. Interest rates are 6.296 compounded daily. Payments are monthly and made at the end of the month. You will own the car in 4 years. You have a down payment of $2,958. Calculate the finance charge interest charged on purchase). Round your answer to two decimal places. Do not enter the dollar sign. Sample input: 1564.23 (Hint: Take the down payment off the total worth of the car including tax this is your PVn. Then, find the monthly payment by hand using the ordinary general annuity formula or use the TVM solver. You will need an interest conversion if you do this question by hand or Excel because we have daily interest but monthly payments, you will need a monthly periodic interest rate. Then find the total value of ALL your monthly payments (e.g., PMT x Total Number of Monthly Payments) and add this to your down payment subtract the purchase price including tax of the car from this figure-the difference is the interest you'll pay for taking out an auto loan!)

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