HW5: Problem 3 Previous Problem List Next (1 point) A sports car enthusiast needs ty finance $25500 of the total purchase price of a new car. A loan is selected having 48 monthly level payments with a lender charging 6% convertible monthly However, the lender informs the buyer that their policy is not to exceed a $400 monthly payment on any car Loan. The buyer decides to accept the loan offer with the $400 payment and then decides to take out a second 12-month loan with a different lender at 8.5% convertible monthly to make up the shortfall not covered by the first loan. Find the amount of the monthly payment on the second loan ANSWER S Preview My Answers Submit Answers You have attempted this problem 0 times You have unlimited attempts remaining Email instructor