1. You purchase a car for 85,000. The terms are 60 monthly payments with a 6% annual percentage rate. (a) What is the equation to calculate monthly payments, show the value you are using for each parameter and calculate the monthly payment? YSone X mhv, ook (b) At the end of the third year what is the equation for the unpaid balance. Show the value you are using for each parameter and calculate the unpaid balance. (There is always an ambiguity of a month you have flexibility to ignore this problem)