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4. Fernando wants to buy a $28500car and found a loan for that amount with a 6.5% interest rate over 7 years. a. How much
4. Fernando wants to buy a $28500car and found a loan for that amount with a 6.5% interest rate over 7 years. a. How much would his monthly_payments be if he had to borrow the full $28500 ? b. How much would he spend total at the end of the 7 years? c. If he paid a down payment of $10000 and then got the same loan terms to borrow the remaining $18500, how much lower would his monthly payments be? d. How much would he spend total at the end of the 7 years, including the down payment, if he only borrowed $18500 ? e. How much did Fernando save on interest by_paying the down payment
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