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7. An individual is looking at buying a truck. A new truck is available for $28,000. It has 0% financing for 84 months and requires

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7. An individual is looking at buying a truck. A new truck is available for $28,000. It has 0% financing for 84 months and requires a 10% down payment. What are the monthly payments? 5 points A used truck is also available for $22,000. It has 4.9% financing for 72 months with no money down. What are the monthly payments? 5 points How much interest will be paid over the life of the new truck loan? 5 points How much interest will be paid over the life of the used truck loan? 5 points What factors would influence the individual's decision as to which truck to buy? 5 points

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