Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used car. He has found one priced at $4,800. The salesman has told Tim that if he can come up with a down payment of $900, the dealer will finance the balance of the price at an annual rate of 15% over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer^?s offer, what will his monthly (end-of-month) payment amount be? b. Use a financial calculator or spreadsheet to help you figure out what Tim^'s monthly payment would be if the dealer were willing to finance the balance of the car price at an annual rate of 11%