Credit scores determine the APR (Annual Percentage Rate) for car loans. The chart below summarizes the APR for new and used cars by credit score (Source: Experian Information Solutions: December 3,2020). I'm providing an online calculator and brief tutorial video to help you with this assignment. Credit Scores Average APR (New Car) Average APR (Used Car) Superprime: 781-850 3.65% 4.29% Prime: 661-780 4.68% 6.04% 7.65% 11.26% Nonprime:601-660 Subprime: 501-600 11.92% 17.74% Deep subprime: 300-500 14.39% 20.45% Question 1 12 pts Use the APR given in the chart to find the monthly payment for financing $28,000 for a new car for 4 years for each of the credit score categories $ Prime 4.68% $ Nonprime 7.65% $ Subprime 11.92% Question 2 28 pts Use the results from question 1 to find the total paid for the car and the total interest paid for the car using the credit ratings. Credit Rating Total paid for 4 year Total interest paid for loan 4 year loan $ $ Prime ta $ Nonprime $ $ Subprime Question 3 5 pts How much would you pay per month if you borrow $12,000 for a used car loan for 5 years if you have a deep subprime credit score (APR 20.45%) Question 4 5 pts Using the monthly payment from Question 3, find the amount you could afford for a used car if you have Super prime credit (4.29%). Again we will have a 5 year loan