Option 1: Purchasing my dream car Go to the car dealer near your house and search for your dream car. You can also search for your dream car through autotrader.com and go to your bank's website (Bank of America, Well Fargo, Chase, Citi, credit union, etc...) and get the interest rate for your car. a) Find out how much your dream car cost? 49,995 b) Figure out how much tax (8.75% for tax) you must pay for your dream car. $4,374.56 c) Add the tax amount to your dream car. $54,369.56 d) Find out the interest rate (either th ough your bank or car dealer) for financing your dream car. 3.9% e) Suppose that you put zero down payment and you want to finance your car for 3 years, how much is your monthly payment? What is the total cost of your car? What is the total amount of interest? monthly payment: $1,473.83 total cost: 53,057.83 interest payed: 3,062.83 f) Suppose that you put zero down payment and you want to finance your car for 5 years, how much is your monthly payment? What is the total cost of your car? What is the total amount of interest? monthly payment: $918.48 total cost: $SS,108.78, Interest paid: $5,113.78 g) With zero down payment, how much money would you save if you finance it for 3 years instead of 5 years? $55,108-$53,057.83= $2,050.17\ h) Suppose you want to put $5000 for down payment, and you want to finance it for 5 years. What is your monthly payment? What is the total cost of your car? What is the total amount of interest? How much money would you save if you put zero down payment versus $5000 down payment and finance it for 5 years? monthly payment = $826.62 interest = $4.602.35 Saving $S511.43 with $5,000 down payment i) Reflection: Write a paragraph summarizing what you learned from this project. What advice would you give your relatives or friends who want to purchase their dream car?