Buying a Car You are purchasing a new car for $27,600. The dealership offers you three 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. . Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months. Use this information to answer questions 3-6 below.Use the Buying a Car information above to answer this question. The rebate offer is $2300, and you can obtain a car loan at your local bank for the balance at 2.61% compounded monthly for 48 months. If you choose the rebate, what is your monthly payment? $ . Round to the nearest dollar. Use the Buying a Car information above to answer this question. You want to make monthly payments of $536, 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 dollar. Use the Buying a Car information above to answer this question. Suppose you make a down payment of 6% of $27,600 and nance the rest at 1.5% compounded monthly for 48 months. How much interest do you pay over the life of the loan? 33 . Round to the nearest dollar