Four years after starting her new job Andreas car has finally broken down to a point that she can no longer fix it. She decides it is time to buy a new car. After doing some research she decides on a Nissan Leaf. The base model has a sticker price of $25,000. However, with the upgrades and add-ons that Andrea wants the car will cost her an additional 6%. There is no sales tax in her state.

1. What is the price that Andrea pays for the Leaf?

Andrea is short on cash, so she trades in her old broken down car to cover the $1260 down payment on the new car. She then finances the rest using a 60-month, 4.0% APR car loan.

2. What will her monthly payments be on the car loan?