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A car manufacturer is offering the choice of a 0.4% loan compounded monthly for 36 months or $1100 cash back on the purchase of a

A car manufacturer is offering the choice of a 0.4% loan compounded monthly for 36 months or $1100 cash back on the purchase of a $17,500 new car. Complete parts (a) through (c) below. (a) If a car buyer takes the 0.4% loan offer, how much will the monthly payment be? The car buyer's monthly payment will be s (Do not round until the final answer. Then round to the nearest cent as needed.)

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