L. Let's Buy a Car offered to finance the balance. Find an automobile you would like to purchase and include a printout of the vehicle, along with the purchase / When a vehicle is purchased and financed through a car dealership, a simple interest contract is typically advertised price. For this, I have set a maximum of $50,000. 1.) What make and model vehicle did you choose? Make Model What is the price of your vehicle? 2) To cover taxes, licensing and document fees, add 10% to the price. what is the new amount? nt that you would pay as a down payment. A down payment is applied to the purchase 3.) Choose an amou amount to lower the amount borrowed. What is your down payment (no more than half the purchase price)? How much money will you be financing? 5.) Use the following numbers to calculate your monthly car payment Simple interest contract Time 6 years (72 months) Rate-25% Simple Interest Show all of your work Monthly car payment 6.) How much will you pay in total for this car? Remember to add in the down payment too. 7 How much interest did you pay