4. Andre wants to buy a new car in a few years. He sets a goal to have (c) $_28,550 in his savings account in order to buy a new car. Andre plans to save money for 5 years by making monthly deposits to a savings account that has an APR of 2.5% compounded monthly. Round answers to two decimal places. a. In order for Andre to reach his savings goal, how much will Andre need to save each month? (3 pt) b. Overall, Andre contributed how much of his own money into the savings account? (4 pt) 5. Walter is Andre's friend and is impressed by the new car. As such Walter thinks it's a good time for a new car as well. Since Walter has not been saving money, he plans to take out a loan to pay for the car. He is able to finance (c) $ 28,550 with a 5-year loan. The loan has an APR of 3.25% compounded monthly. Round answers to two decimal places. a. What is the minimum payment amount Walter will need to make for his car loan? (3 pt) b. How much will Walter pay altogether over the life of his car loan? (4 pt) 6. Both men purchased a (c) $_28,550 car. Who spent more of their own money for the car and by how much? Round to two decimal places. (3 pt) 7. Morgan recently graduated college with their degree and owes (d) $ 12,625_ in student loans with an APR of 4.6% compounded monthly. They are expected to pay off the loan in 15 years. Round answers to two decimal places. a. Under the current terms of their loan, what is Morgan's minimum monthly payment? (3 pt) b. What is the total amount Morgan will pay when the loan is complete? (4 pt) C. How much will Morgan pay in interest? (4 pt) 8. Morgan decides to pay more than the required minimum monthly amount for their loan to pay off the loan faster. They want to have the loan paid in full after 10 years. Round answers to two decimal places. a. Assuming all the same conditions of the original student loan, what would Morgan's new monthly payment need to be if they wanted to pay off the loan in 10 years? (3 pt) b. What is the total amount Morgan will pay if they pay off the loan in 10 years? (4 pt) C. With the 10-year loan, how much will Morgan pay in interest? (4 pt)