Part 1: Buying a Car Tony wants to buy a 2016 Honda Accord that he found online. The dealer has offered him the following two options for financing: Rebate Option: No down payment, a $2500 rebate, and 9.0% APR Low APR Option: $1500 down and 3.5% APR. Tony is going to finance the car for 5 years. Calculate the following for each option: Monthly payment Total amount of interest paid over the loan term EX-L V-6 Starts at $30,745 The above price includes all taxes and fees. Round all answers to the nearest cent. Lets look at the different options 1. How much would your monthly payment be for the Honda Accord, using the Rebate Option? To calculate this you need to open the excel applet here. Click on the tabs at the bottom and go to the Loan tab. input the information from the situation above. 2. How much total money would you spend, over all 5 years, for the Honda Accord, using the Rebate Option? 3. How much total interest did you give the bank in order to borrow the money to purchase the Honda Accord, using the Rebate Option? ne 4. How much would your monthly payment be for the Honda Accord, using the Low APR Option? To calculate this you need to open the excel applet here. Click on the tabs at the bottom and go to the Loan tab. Input the information form the problem above. 5. How much total money would you spend over all years, for the Honda Accord, using the Low APR Option? 6. How much total interest did you give the bank in order to borrow the money to purchase the Honda Accord, using the Low APR Option? Check Based on the above Information, which option should Tony choose? Why? Explain with numbers from above and more cel 7 A- BI7- O