4. Andre wants to buy a new car in a few years. He sets a goal to have $28,950 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?

B). Overall, Andre contributed how much of his own money into the savings account?

Walter is Andres friend and is impressed by the new car. As such Walter thinks its 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 $28,950 with a 5-year loan. The loan has an APR of 3.25% compounded monthly. Round answers to two decimal places.

C). What is the minimum payment amount Walter will need to make for his car loan?

D). How much will Walter pay altogether over the life of his car loan?

E). Both men purchased a $28,950 car. Who spent more of their own money for the car and by how much? Round to two decimal places.