You are purchasing a new car for $27,600. The dealership offers you three options: 0%...

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You are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0 down and 0% financing for 48 months. • Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. • Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months: Use this information for the questions below. Use the Buying a Car information above to answer this question. You want to make monthly payments of $425, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? Round to the nearest dollar. Question 2 Use the Buying a Car information above to answer this question. The rebate offer is $3700, and you can obtain a car loan at your local bank for the balance at 5.74% compounded monthly for 48 months. If you choose the rebate, what is your monthly payment? Round to the nearest dollar. $ 25 pts ▸ Use the Buying a Car information above to answer this question. What is your monthly payment if you choose 0% financing for 48 months? Round to the nearest dollar. . Use the Buying a Car information above to answer this question. Suppose you make a down payment of 10% of $27,600 and finance the rest at 1.5% compounded monthly for 48 months. How much interest do you pay over the life of the loan? $ Round to the nearest dollar. You are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0 down and 0% financing for 48 months. • Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. • Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months: Use this information for the questions below. Use the Buying a Car information above to answer this question. You want to make monthly payments of $425, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? Round to the nearest dollar. Question 2 Use the Buying a Car information above to answer this question. The rebate offer is $3700, and you can obtain a car loan at your local bank for the balance at 5.74% compounded monthly for 48 months. If you choose the rebate, what is your monthly payment? Round to the nearest dollar. $ 25 pts ▸ Use the Buying a Car information above to answer this question. What is your monthly payment if you choose 0% financing for 48 months? Round to the nearest dollar. . Use the Buying a Car information above to answer this question. Suppose you make a down payment of 10% of $27,600 and finance the rest at 1.5% compounded monthly for 48 months. How much interest do you pay over the life of the loan? $ Round to the nearest dollar.