PROBLEMA? Buying a car (20 points) You are in the market to buy a new car. You have $2,500 to put down on the car as a down payment. The car you want is $22,500 total, not including any down payments. The dealer is giving you two choices of financing: 1) They will match your down payment and give you financing for five years at an annual rate 3.875%, or 2) They will not match your down payment but you will be given 5-year financing at an annual rate of 1.875%. Both financing proposals require monthly payments and the loans are fully amortizing (completely paid off by the end of the loan term). Calculate the monthly payments for each financing proposal. Monthly payment for Option 1 39 316 Monthly Payment for Option 2 In the space below, which option should you choose and why? i would choose the first option, it has a higher interest rate, lout a tower mont Payment Since they matched the down BONUS? PROBLEMS: Amortizing a Loan (10points)- For the Option 2 loan above, give me the following information pertaining to the 20th payment made in the loan: Amount of principal paid with the 20th payment: Amount of interest paid with the 20th payment: Amount still owing on the loan after the 20th payment