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please help, i need help with the this assignment!! please and thank you in advance! Today, we will make a vehicle purchase and examine how

please help, i need help with the this assignment!! please and thank you in advance! image text in transcribed
Today, we will make a vehicle purchase and examine how auto loans work mathematically. Here are the terms of our car purchase: Sticker price: $25,000 Down payment: 10% of purchase price APR: 4.51% Term of loan: 60 months Payment schedule: monthly Work out the solutions of to the following problems on a separate sheet of paper. Be clear with your work and with the formulas used. Upload your solutions to the assignment dropbox in D2L. 1. (3 points) How much is your down payment? 2. (3 points) How much are you financing? In other words, how much is the loan for? 3. (5 points) To calculate your monthly payment, you will use the annuity payout (loan) formula. d= -NR What is the monthly payment under the conditions of the loan? 4. (2 points) Find an online auto loan calculator and check you answer. Do the answers agree? State the website used. 5. (5 points) In total, how much did the car cost? Be sur sure to include down payment, loan amount, and interest on the loan. 6. (3 points) What was the total interest paid over the term of the loan? 7. (3 points) Here, we only considered the purchase price of the car in our financing. What other considerations might you want to make if you were to purchase a vehicle? What other items might you need to pay for when buying a vehicle? List at least 3 items

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