Question: The next three problems problems 6-8) are loan payment problems. In antwering all questions assume that D/Y 1, so that and relate to the number

 The next three problems problems 6-8) are loan payment problems. In

The next three problems problems 6-8) are loan payment problems. In antwering all questions assume that D/Y 1, so that and relate to the number of periods and the period interest rate, respectively Problem 6 (Loan Payments 7 points in total. You are buying a Ford 150 with purchase price in total) $35,000. You have $10,000 for the down payment and borrowing the remaining $25.000 with a 5 year loan. The loan has APR 6 with equal monthly payments monthly compounding m-12) starting one month after you take powestion of the Pond. What is the monthly payment on the loan? Clint the monthly payments fully pay off the loan by the end of the 5 years) Write down your calculator entries for NVY. PV.FV, and your answer from CPT PMt. You will record your answers in three parts to this problem Part A here). Please indicate your calculator entry for N and Uy, where is a simple integer en 10 for 10 periods, and I/Y is recorded as exitoont decimal, recorded as percentage points per the calculator, ca. 5.0 for 5% N- 1/Y Question 18 2 pts Problem 6 Part B. Please indicate your calculator entries for PV and FV. Please indicate EXACTLY how you enter the corresponding value in the cakulatorer 1.000 for positive 1.000 dollars inos signs, with comma as needed, no decimal point found to nearest dollar -1.000 for negative one thousand dollars PV- FV Question 19 25 pts Problem 6 Part C. Please indicate your finanswer to Problems, what is the monthly payment on the loan (PMTI 141667 $48032 $54167 55333

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