Kevin borrows $12 000 to buy a new car. His car loan charges interest of 6.9% /a, compounded monthly. The loan is amortized over 3 years. Use the TVM Solver to determine his monthly payments. Create a revised budget to reflect this expense.

You will likely need to reduce some of Kevins expenses so that he can afford his car payments. Provide description of what was altered and why in the calculations section.