9. [-14 Points) DETAILS TANFIN12 5.3.023. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The price of a new car is $16,000. 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 60 months? Over a period of 72 months? 60 months 72 months $ (b) What will the interest charges be if she elects the 60-month plan? The 72-month plan? 60-month plan $ 72-month plan $ Need Help? Read it