Janet wants to buy her first car. She knows the make and model she wants but has not decided whether it will be new or used. The new car has an MSRP of $24,572. Janet negotiates a discount of $650 and needs to pay the following additional costs: - $685 freight charge - \$100 tire/air tax - $75 gas tax - $85 administration fee - $74 licence plate fee - $20 gas fee - \$54 finance fee 1 ONGOING DEMONSTRATION Janet has also found a used car of the same make and model that is 2 years old and has been driven 38,547 kilometers. The price of the used vehicle is $14,950. Additional costs include - $85 administration fee - $74 licence plate fee - $20 gas fee - $54 finance fee The interest rate on the loan for the new car is 4.9% compounded monthly. The interest rate on the loan for the used car is 9.9% compounded monthly. In each case, the car will be financed for 36 months. a) Create two deal reviews: one for the new car, the other for the used car (sec attached) b) What is the difference in monthly payments? c) What is the total cost in each case? d) What factors should Janet consider as she decides whether to buy the new car or the used car? Moaule 5 ease stuay 2 Deal Review (New car) \begin{tabular}{|l|l|l|} \hline MSRP or List Price & Gas Fee \\ \hline Discount & Lien Payout \\ \hline Purchase Price & Delivery Price \\ \hline Freight & MFG Rebate \\ \hline Tire/Air Tax & Down Payment \\ \hline Gas Tax & Finance Fee \\ \hline Administration Fee & Amount Financed \\ \hline Taxable Subtotal & Interest Rate \\ \hline Trade-in Allowance & Loan Term \\ \hline Taxable Total & Monthly Payment \\ \hline HST (13\%) & Interest Due (at % ) \\ \hline Licence Plate Fee & Balance Due \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Deal ReVieW } & (USEd Call) \\ \hline MSRP or List Price & Gas Fee \\ \hline Discount & Lien Payout \\ \hline Purchase Price & Deliuery Price \\ \hline Freight & MFG Rebate \\ \hline Tire/Air Tax & Down Payment \\ \hline Gas Tax & Finance Fee \\ \hline Administration Fee & Amount Financed \\ \hline Taxable Subtotal & Interest Rate \\ \hline Trade-in Allowance & Loan Term \\ \hline Taxable Total & Monthly Payment & \\ \hline HST (13\%) & Interest Due (at % ) \\ \hline Licence Plate Fee & Balance Due \\ \hline \end{tabular}