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5. You plan to make a 12% down payment on the purchase of a $28,000 car. You will finance the rest of the cost at

5. You plan to make a 12% down payment on the purchase of a $28,000 car. You will finance the rest of the cost at 3.3% annual interest for 6-years. a. What is the down payment? b. What is the financed amount? c. What are the monthly payments? d. What are the total payments? e. What is the total interest you will pay on the loan? (That is, what is the cost of the loan?) 3

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