Felix is planning to buy a new car and has set out to pay for it in 7 years. Today the new car is worth $ 20,000 and can be financed at an interest rate of 9.24% per annum compounded per month. Help Felix determine the following:

a) Values of effective rates.

b) What is the value of the bill that must be paid each month?

c) Without using payment plans When paying the bill corresponding to month 42, Felix decides to ask the bank for the amount of the balance owed after paying said bill. At that time, he makes the decision to pay that balance in the next two years, making equal monthly payments. How much has the monthly letter increased?

d) Without using payment plans Felix asks you to help him estimate how much he will pay in principal and interest if: Maintains the monthly payment as it was calculated in point b. and making the decision of point c.