7. [0/7.69 Points] DETAILS PREVIOUS ANSWERS TANFIN12 5.3.023. MY NOTES The price of a new car is $40,000. Assume that an individual makes a down payment of 25% toward the purchase of the car and secures financing for the balance at the rate of 8%/year compounded monthly. (Round your answers to the nearest cent.) (a) What monthly payment will she be required to make if the car is financed over a period of 36 months? Over a period of 48 months? 36 months $ 35164 48 months $ 7326 X (b) What will the interest charges be if she elects the 36-month plan? The 48-month plan? 36-month plan 48-month plan $35164.83 X Viong Sored Work Revert to Last Response