General Intro to Finance Questions. Can you briefly explain?? Thanks for you help...

4) The purchase price of a car is $25,000. Mr. Smith makes a down payment of $5000 and borrows the balance from a bank at 6% interest for five years. Calculate the nearest value of the required monthly payments to pay off the loan.

(A) $350

(B) $400

(C) $450

(D) $500

5) A piece of machinery can be bought for $10,000 cash or for $2000 down and payments of $750 per year for 15 years. What is the annual interest rate for the time payments?

(A) 1.51%

(B) 4.61%

(C) 7.71%

(D) 12.0%

6) You have borrowed $5000 and must pay it off in five equal annual payments. Your annual interest rate is 10%. How much interest will you pay in the first two years?

(A) $855

(B) $868

(C) $875

(D) $918