Buying a Car You are purchasing a new car for $27,600. The dealership offers you four options: - 0% financing: 0 down and 0% financing for 48 months. Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. Flexible term: 0 down, 2% compounded monthly, and you pick the length of the loan. Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months. . You want to make monthly payments of $310, so you decide to go with the flexible term option. How many months should your loan be? months. Round to the nearest month. Question 6 4 pts You want to make monthly payments of $514, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? $ Round to the nearest cent