1. 5 years from now you want to buy a car that is $45,000. You want to buy this car with no financing, all cash. You set up a savings account that you contribute to monthly and has a 3% interest rate. What amount do you need to contribute monthly to reach your goal of saving $45,000 5 years from now? You may use a calculator to work the problem, but YOU MUST SHOW YOUR STEPS TO SOLVING THIS PROBLEM . 2. You want to buy a house where you live. The house is $139,900 and you can only afford $20,000 as a down payment. Find financing rates for a the home mortgage with two different terms from real banks. {For example, find the rate of a 30-year (360 month) loan and a 20-year (240 month) loan} (You should have two answers) 2b. SHOW YOUR WORK and Determine the monthly mortgage payment amount for the mortgages listed in part 2 (You should have two answers here) 2c. What is the total amount you will repay for each of these Mortgages? (Monthly payment x number of months) (SHOW WORK) 2d. How much will each of these Mortgages cost you? (Total repaid amount financed) (SHOW WORK) 2e. Consider the following categories and calculate what each would cost you per month. (These are based on Louisville, KY) (SHOW WORK) 2e1. Real estate taxes (0.93% [0.0093] of home value per year, use the number $139,900) 2e2. Home Insurance (0.6% [0.006] of home value per year, use the number $139,900) 2e3. HOA Fees (240 per year) 2e4. TOTAL (2e1-2e3) 2f. Now add this value (total part 2e) to your two monthly payments (Part 2b). 2g. Which is the better deal for you? Explain in a complete sentence why you chose this deal.