12. The salesman agrees to a purchase price of $16,000. Henry has $3,000.00 saved and will get $2,000.00 as a trade- in for his current vehicle. Henry has great credit and will finance at a 3.25% interest rate over 60 months. Using this calculator, what will Henry's monthly payment on this loan be? 13. How much interest will Henry save if he finances the vehicle over 36 months instead? Henry decides to purchase the vehicle and finance it over 36 months, since the payment is still slightly under his budget amount. He calls his insurance agent to set up insurance on the vehicle and is pleasantly surprised that his rate will be $101.00 per month. Henry is excited and feels he is prepared to purchase the vehicle. Henry's dad, however, reminds him that there are additional expenses when Henry signs his paperwork and officially purchases the vehicle. lI