I wanted to know about question number 1 I have 6.66%. Also for question 4 do I add 27,800 and the down payment of 4140 to get my total amount.

Major Lab 5 - Dean's New Car Dean is planning to purchase a car for $27,800. He has $4170 to put down and can finance remainder for 6 years. 1. What percent down payment is Dean making? (Round the answer to two decimal place Answer: 2. What is the loan amount that Dean will be financing? Answer: 3. What will his monthly payments be on the car loan? Use the interest rate of 6.4% Answer: 4. What is the total amount Dean will pay for his car if he finances the purchase? (hint include the down payment!) Answer: 5. How much interest will Dean pay the creditor over the life of the loan? Answer: 6. Since Dean has the down payment amount of $4170 already, if he puts that in his earning an APR of 1.2% compounded monthly, what amount would he have to d to have the full $27,800 cost of the car so he could pay cash for it in four years? Answer: 7. If Dean saves up to pay cash for his car (as calculated in question #6) instead of be the total that he has to deposit into the savings account to accumulate the Again, do not forget the initial deposit! i.e. the down payment amount) Answer: 8. How much less will Dean pay for the car if he saves up to pay cash for his car i Answer: 9. If Dean puts the down payment amount in his savings account, and then he d account each month, how long will it take for him to save up for the car? Answer: 10. Post a question in Teams. Answer a question in Teams. Interact with group