INDIVIDUAL PROJECT Instructions - In this project, there are 2 case studies - Case 1 - Q1: 6+612 marks - Q2: 6+6=12 marls - Case 2 - Q1:6 marks - Q2: 10 marks - Total of 40 marks - Answers must have correct units. - Accuracy should be to the nearest cent (\$1.00), percentages to the nearest 0.01%, and decimal equivalents to the nearest 0.0001 for interval calculation, and 0.01 for final answer. - Each of your final answers should be in statement form with correct notation. - Final version is in PDF format Case Study 1 Having been working for two years, Sarah has decided to purchase a car for daily commute and leisure. After hearing the advices and suggestions from friends and family, she has visited several auto dealerships, and chosen the new car she would like to purchase. She now wants to research her financing options to choose the best way to pay for the car. Sarah knows that with taxes, licence, delivery, and dealer preparation fees, the car will cost $27,650. She has $7500 from deposit account and $5000 from parents toward the purchase price but must borrow the rest. She has narrowed her financing choices to three options: dealer financing, credit union financing, and bank financing. (i) The car dealer has offered 48 -month financing at 8.5% compounded monthly. (ii) The credit union has offered 36 -month financing at 9% compounded quarterly. It has also offered 48 -month financing at 9.3% compounded quarterly. (iii) The bank has offered 36 -month financing at 8.8% compounded semi-annually. It has also offered 48 -month financing at 9.1% compounded semi-annually. Questions union, and the hark. (a) What is the effective annal gate of interest for each as-anonth ogtion? - 6 muela aptina? -6 maks Case Study 2 ue anmaty formulas to calculate the monitly poymers BtSaleo3 Math far Buisers_ Frejoct 2 Qtistrovs haly 31,36 maka with bigher price. The more exponive vehide cons $54,900 in sotat ind pualifies fix the of esing the deaida's 3.9 s finuncung 210 marke