I also need a new car. And you as a bank representative have referred me to one of your colleagues.

I$\text{'}$m getting a brand new silver Porche Panamera Hybrid Sport Turismo. It will look good in the UMB West Garage.

The sales price is $$142,000.$ I am putting down $$20,000$

The interest rate will be $51/8\%.$ The term will be $7$ years

Calculate the payment