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9. [-14 Points) DETAILS TANFIN12 5.3.023. MY NOTES ASK YOUR TEACHER The price of a new car is $12,000. Assume that an individual makes a

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9. [-14 Points) DETAILS TANFIN12 5.3.023. MY NOTES ASK YOUR TEACHER The price of a new car is $12,000. 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 6%/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 48 months? Over a period of 60 months? 48 months $ 60 months (b) What will the interest charges be if she elects the 48-month plan? The 60-month plan? 48-month plan $ 60-month plan $ Submit Answer 9. [-14 Points) DETAILS TANFIN12 5.3.023. MY NOTES ASK YOUR TEACHER The price of a new car is $12,000. 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 6%/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 48 months? Over a period of 60 months? 48 months $ 60 months (b) What will the interest charges be if she elects the 48-month plan? The 60-month plan? 48-month plan $ 60-month plan $ Submit

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