Assignment #1 Chris (for Christine or Christopher) and Sam (for Samuel or Samantha) are a couple who live in Toronto and are somewhat recent graduates from George Brown. They each earn $60,000 per year. And both are 25 years old. They have four nancial goals: pay off a loan for a car, save for a down payment for a house, save for post-secondary education for their children they hope to have in three and five years from now, and save for a retirement. Car Purchase They have bought a 2022 Ford EcoSport with no accessories. The cost was $25,599 after fees and taxes the cost was $31,408. You can see the car at hgpszz [ shop.ford.ca g configure [ ecosport [ configz paintz Config%53%7CFord%7CEcoS SAE.%5D. MST 2T9 was the postal code pgrt'Vo 7C2022% 7C1 %7C1.%7C.S3F..PTY...V used in the quotation. It is the postal code of the mailing address of the college. but Determine the loan payments, interest rate, and length of the loan. You may use the loan offered by Ford. Support your choice. Save for a Down Payment Chris and Sam would like to buy a townhouse that has a current price of about $650,000. An example that is currently for sale is 1059 100 Mornelle Court, which is in the MomingsideEllesmere area south of 401. Their timeframe for purchasing a house is about five years when they plan on having their second child. However, they know that prices for houses rise, even though there has been a temporary decline in prices. The Toronto Star reports that in January 2016 the average price of detached houses in Toronto was $1,061,789 and in December 2022 it was $1,627,635 (Kalinowski, 2023). While they are not buying a detached house, they decided to use that rate of increase to determine the likely cost of their future townhouse. They have also decided to save th minimum down payment required for e minimum down payment. Table 1 shows the the cost of the house. You will see that the minimum down payment increases with the price of the house. Houses that cost $1 million or more require a 20% down payment. And houses that are not primary residences also require a 20% down payment regardless of their prices