14.

14. Assume you're buying a new car for $40,000, financed at 12% for four years. Assume the payments in the last two years are half as much as the payments in the first two years and there is no payment in month 14 . How much is the monthly payment in the first two years? a. $1227.16 b. $1248.32 c. $1294.50 d. $1391.85 e. $1898.10