1. Type your name under the Purchaser's Name part of the contract (included on page 3). You do not need to fill out the address information. 2. For the car you selected, write the yefir, make, model, and MSRP in the Vehicle Being Purchased in the space on the left side of the contract. 3. [1 pt] Suppose you are able to negotiate a selling price of 95% of the MSRP. Type the selling price into the Selling Price line of the contract. You may carry this value down to the Price After Equipment Change line. (Grade breakdown: 5 for work; .5 for answer) Replace these words with your image of the solution and answer. (for question 3 only) 4. Assume you have no trade-in. Write your selling price in the Taxable Total line of the contract. 5. [1 ptCalculate the sale tax and type this amount in the Sales Tax line of the contract. In the state of Arizona, the tax rate is different depending on where you purchase your car. Currently the Arizona sales tax rate is 5.6%. Maricopa County adds on 0.7% sales tax to support roads and jails. Phoenix has a city tax of 2.3%. That's a total of 8.6% if you purchase your car in the city of Phoenix. Assume we're buying the car in the city of Phoenix, so use the 8.6% sales tax rate. (Grade breakdown: 5 for work;.5 for answer) Replace these words with your image of the solution and answer. (for question 5 only) 6. 11 pt] The license fee is 2.8% of the value of your car. The value of your car is 60% of the MSRP (not the purchase price!). Write the license fee in the License Fee line of the contract. Ex: If the MSRP is $25,000, the value of your car would be: $25,000 * 0.60 = $15,000 Use this value to calculate the license fee. This value is NOT your license fee. (Grade breakdown: 5 for work;. for answer) Replace these words with your image of the solution and answer. (for question 6 only) 7. Add the title service fee, license fee, sales tax, and purchase price to obtain the total duc. Write this amount in the Total Due line of the contract. 8.11 pt! You plan to make a 10% down payment. Write your down paynent in the Total Cash Down CS Cam box.anner EAH011 (Grade breakdown: 5 for work;.5 for answer) Replace these words with your image of the solution and an answer. (for question 8 only) 9. Calculate the balance due and type this value in the Balance Due line of the contract. Now we will move on to the financing. Financing: Write the finance information under the FEDERAL TRUTH-IN-LENDING DISCLOSURES part of the contract. 10. Type the amount borrowed (balance duc) in the Amount Financed box. 11. Assume you can secure a loan at 3.9% for 36 months. Type these values in the Annual Percentage Rate and Number of Payments boxes. 12. 17 pts) Calculate your monthly payment and type this value in the Amount of Payments box. (Grade breakdown: 2 correct formula; 3 for work; 2 for answer) Replace these words with your image of the solution and answer. (for question 12 only) 13. [1 pt) Find the total amount paid during the loan and write the amount in the Total of Payments box. (Grade breakdown: .5 for work;.5 for answer) Replace these words with your image of the solution and answer. (for question 13 only) 14. 12 pts) Find the total amount of interest paid during the loan and write the amount in the Total Finance Charge box. (Grade breakdown: 1 for work; 1 for answer) Replace these words with your image of the solution and answer. (for question 14 only) you determine that this monthly payment is too much. Complete the remaining questions on page 2 of your contract below. 15. Use the link in the Canvas assignment to access the spreadsheet to get the monthly payment on a 72-month loan and type that amount here. 16. [1 pts) Find the total amount paid during the loan and write the amount in the Total of Payments box. (Grade breakdown: .5 for work; .5 for answer) Replace these words with your image of the solution and answer. (for question 16 only) 17. [2 pts) Find the total amount of interest paid during the loan and write the amount in the Total Finance Charge box. (Grade breakdown: 1 for work; 1 for answer) Replace these words with your image of the solution and answer. for question 17 only) 18. [3 pts] How much more do you pay in interest with the 72 month loan compared to the 36 month loan? (Grade breakdown: 2 for work; 1 for answer) Replace these words with your image of the solution and answer. Finarce Group Probianischer E ZHf21 1. Type your name under the Purchaser's Name part of the contract (included on page 3). You do not need to fill out the address information. 2. For the car you selected, write the yefir, make, model, and MSRP in the Vehicle Being Purchased in the space on the left side of the contract. 3. [1 pt] Suppose you are able to negotiate a selling price of 95% of the MSRP. Type the selling price into the Selling Price line of the contract. You may carry this value down to the Price After Equipment Change line. (Grade breakdown: 5 for work; .5 for answer) Replace these words with your image of the solution and answer. (for question 3 only) 4. Assume you have no trade-in. Write your selling price in the Taxable Total line of the contract. 5. [1 ptCalculate the sale tax and type this amount in the Sales Tax line of the contract. In the state of Arizona, the tax rate is different depending on where you purchase your car. Currently the Arizona sales tax rate is 5.6%. Maricopa County adds on 0.7% sales tax to support roads and jails. Phoenix has a city tax of 2.3%. That's a total of 8.6% if you purchase your car in the city of Phoenix. Assume we're buying the car in the city of Phoenix, so use the 8.6% sales tax rate. (Grade breakdown: 5 for work;.5 for answer) Replace these words with your image of the solution and answer. (for question 5 only) 6. 11 pt] The license fee is 2.8% of the value of your car. The value of your car is 60% of the MSRP (not the purchase price!). Write the license fee in the License Fee line of the contract. Ex: If the MSRP is $25,000, the value of your car would be: $25,000 * 0.60 = $15,000 Use this value to calculate the license fee. This value is NOT your license fee. (Grade breakdown: 5 for work;. for answer) Replace these words with your image of the solution and answer. (for question 6 only) 7. Add the title service fee, license fee, sales tax, and purchase price to obtain the total duc. Write this amount in the Total Due line of the contract. 8.11 pt! You plan to make a 10% down payment. Write your down paynent in the Total Cash Down CS Cam box.anner EAH011 (Grade breakdown: 5 for work;.5 for answer) Replace these words with your image of the solution and an answer. (for question 8 only) 9. Calculate the balance due and type this value in the Balance Due line of the contract. Now we will move on to the financing. Financing: Write the finance information under the FEDERAL TRUTH-IN-LENDING DISCLOSURES part of the contract. 10. Type the amount borrowed (balance duc) in the Amount Financed box. 11. Assume you can secure a loan at 3.9% for 36 months. Type these values in the Annual Percentage Rate and Number of Payments boxes. 12. 17 pts) Calculate your monthly payment and type this value in the Amount of Payments box. (Grade breakdown: 2 correct formula; 3 for work; 2 for answer) Replace these words with your image of the solution and answer. (for question 12 only) 13. [1 pt) Find the total amount paid during the loan and write the amount in the Total of Payments box. (Grade breakdown: .5 for work;.5 for answer) Replace these words with your image of the solution and answer. (for question 13 only) 14. 12 pts) Find the total amount of interest paid during the loan and write the amount in the Total Finance Charge box. (Grade breakdown: 1 for work; 1 for answer) Replace these words with your image of the solution and answer. (for question 14 only) you determine that this monthly payment is too much. Complete the remaining questions on page 2 of your contract below. 15. Use the link in the Canvas assignment to access the spreadsheet to get the monthly payment on a 72-month loan and type that amount here. 16. [1 pts) Find the total amount paid during the loan and write the amount in the Total of Payments box. (Grade breakdown: .5 for work; .5 for answer) Replace these words with your image of the solution and answer. (for question 16 only) 17. [2 pts) Find the total amount of interest paid during the loan and write the amount in the Total Finance Charge box. (Grade breakdown: 1 for work; 1 for answer) Replace these words with your image of the solution and answer. for question 17 only) 18. [3 pts] How much more do you pay in interest with the 72 month loan compared to the 36 month loan? (Grade breakdown: 2 for work; 1 for answer) Replace these words with your image of the solution and answer. Finarce Group Probianischer E ZHf21