Chuck Wells is planning to buy a Winnebago motor home. The listed price is $$185,000.$ Chuck can get a secured add$-$on interest loan from his bank at $7\mathrm{.}45\%$ for as long as $60$ months if he pays $15\%$ down. Chuck's goal is to keep his payments below $$4,300$ per month and amortize the loan in $42$ months.

$($a$)$

Find Chuck's monthly payment $($in $$)$ with these conditions. $($Round your answer to the nearest cent.$)$

$

Can he pay off the loan and keep his payments under $$4,300?$

Yes, under these conditions, Chuck will meet his goal. No$,$ the monthly payment is too high.

$($b$)$

What are Chuck's options to get his payments closer to his goal? $($Select all that apply.$)$

make a lower down payment try to bargain for a lower sale price try to negotiate a higher interest rate try to negotiate a lower interest rate make a higher down payment try to bargain for a higher sale price

$($c$)$

Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a $6\mathrm{.}85\%$ loan if Chuck can pay $20\%$ down. What will Chuck's new monthly payment $($in $$)$ be with these conditions? $($Round your answer to the nearest cent.$)$

$

With these conditions, will Chuck be able to pay off the loan and meet his goals?

Yes, under these conditions, Chuck will meet his goal. No$,$ the monthly payment is too high.

$($d$)$

Attempting to reduce his monthly payment further, Chuck continues to negotiate with the seller. If the seller agrees to reduce the listed price by $$4,800,$ finance the deal with a $6\mathrm{.}85\%$ loan, and if Chuck pays the $20\%$ down, what will Chuck's monthly payment be $($in $$)?($Round your answer to the nearest cent.$)$

$

With these conditions, will Chuck be able to pay off the loan and meet his goal?

Yes, under these conditions, Chuck will meet his goal. No$,$ the monthly payment is too high.