Car Price is 38,178

Suppose the dealer/seller offers you the following financing options: Option One: 0.9% interest for 48 months on the car with $2500 down Option Two: 2.9% interest for 60 months on the car with $1000 down Option Three: 4.5% interest for 84 months on the car with $500 down 1. Select an option from among the dealer's offers. Explain the reasoning behind your choice. 2. Calculate the Amount Financed, or the amount that you borrow once the down payment is subtracted. 3. Using the Total Price of the car that you calculated in Problem One, calculate the Monthly Payment for your selected option by finding the regular payment required into an annuity to attain a future value equal to the Amount Financed. 4. Calculate the Financing Costs for your selected option. Suppose the dealer/seller offers you the following financing options: Option One: 0.9% interest for 48 months on the car with $2500 down Option Two: 2.9% interest for 60 months on the car with $1000 down Option Three: 4.5% interest for 84 months on the car with $500 down 1. Select an option from among the dealer's offers. Explain the reasoning behind your choice. 2. Calculate the Amount Financed, or the amount that you borrow once the down payment is subtracted. 3. Using the Total Price of the car that you calculated in Problem One, calculate the Monthly Payment for your selected option by finding the regular payment required into an annuity to attain a future value equal to the Amount Financed. 4. Calculate the Financing Costs for your selected option