14. Choose the best answer

You want to buy a car whose cost is $ 30,000, plan an early payment of 5,000. Assume you are granted a 6% loan, payable in five years, calculate the monthly payment and total interest paid.

Possible Answers:

1. The monthly payment would be $ 783.32 and interest would be paid $ 8,999.70

2. The monthly payment would be $ 683.32 and interest would be paid $ 4,999.70

3.The monthly payment would be $ 583.32 and interest would be paid 4,999.20

4.The monthly payment would be $ 483.32 and interest would be paid $ 3,999.20