(20 pts.) 2. You are considering buying a new car from a local dealer (Dealer 1) for $35,000. Dealer 1 will finance the entire purchase price at 2% interest over 6 years. Interest is compounded monthly and you must make monthly payments. What is the most you should be willing to offer another dealer (Dealer 2) for the same car who is offering a financing plan with a 4% interest rate over 6 years? Hint: If the loan payments are the same you can assume you would be indifferent between buying from the two dealers. Explain your answer, including any TVM formulas you used. Use the Q2' worksheet in the Excel template. Dealer 1 Price Dealer 2 P - dealer 2 r r 35,000 2% 6 12 t It m m P- dealer 1 Car Price Briefly describe how you solved this problem here. What TVM formula(s) did you use? (20 pts.) 2. You are considering buying a new car from a local dealer (Dealer 1) for $35,000. Dealer 1 will finance the entire purchase price at 2% interest over 6 years. Interest is compounded monthly and you must make monthly payments. What is the most you should be willing to offer another dealer (Dealer 2) for the same car who is offering a financing plan with a 4% interest rate over 6 years? Hint: If the loan payments are the same you can assume you would be indifferent between buying from the two dealers. Explain your answer, including any TVM formulas you used. Use the Q2' worksheet in the Excel template. Dealer 1 Price Dealer 2 P - dealer 2 r r 35,000 2% 6 12 t It m m P- dealer 1 Car Price Briefly describe how you solved this problem here. What TVM formula(s) did you use