Solve the question using calculus knowledge

2. You are thinking of purchasing a used automobile. The dealer's list price is $18,000. The dealer offers to finance the purchase with car payments of $375 per month for 5 years. Is the dealer charging you a fair interest rate for the financing? Derive the below a general formula for the present value A of n equal monthly payments of size p with interest rate i per month. A = ? [1 (1+i)=]. b. Replace i by x and using the data for your car payment, show that x satisfies: 48x(1 + x)60 (1 + x)60 + 1 = 0. c. Solve for x - you can use Newton's method or Mathematica. Find the yearly interest rate = 12x. 2. You are thinking of purchasing a used automobile. The dealer's list price is $18,000. The dealer offers to finance the purchase with car payments of $375 per month for 5 years. Is the dealer charging you a fair interest rate for the financing? Derive the below a general formula for the present value A of n equal monthly payments of size p with interest rate i per month. A = ? [1 (1+i)=]. b. Replace i by x and using the data for your car payment, show that x satisfies: 48x(1 + x)60 (1 + x)60 + 1 = 0. c. Solve for x - you can use Newton's method or Mathematica. Find the yearly interest rate = 12x