Mr. Smith wants to buy a new car that will cost $ 18,000. Fie will make a down payment in the amount of $8,000. He would like to borrow the remainder from a bank at an interest rate of 9% compounded monthly. He agrees to pay off the loan monthly for a period of two years. Select the correct answer for the following questions: 

(a) What is the amount of the monthly payment A? 

İ. A = $10,000(A/P, 0.75%, 24) 

ii. A = $10,000(A/P, 9%, 2)/12 

iii. A = $10,000(A/F, 0.75%, 24) 

iv. A = $12,500(A/F, 9%, 25/12 

(b) Mr. Smith has made 12 payments and wants to figure out the balance remaining immediately after the 12th payment. What is that balance? 

i. B₁₂ = 12A 

ii. B₁₂ = A(P/A, 9%, 1)/12 

iii. B₁₂ = A(P/A, 0.75%, 12) 

iv. B₁₂ = 10,000 - 12A