Question 3 1 pts For questions 1 - 6: Foxtrot Corporation is purchasing a new Ford Transit delivery van for $24,600. Its lender requires a maximum loan to value ratio of 80% on the purchase price of the vehicle. The term of the loan is 5 years. The interest rate is 5% APR. The loan is a closed end credit loan. There is no trade-in. Sales tax is 7%. Documentation fee is $275. 3. How much cash must Foxtrot Corporation have to make the down payment? $24,600 X.30 = $7,380 $24,600 X.80 = $19680 $0.00 $24,600 X.20 = $4.920 Question 4 1 pts For questions 1 - 6: Foxtrot Corporation is purchasing a new Ford Transit delivery van for $24,600. Its lender requires a maximum loan to value ratio of 80% on the purchase price of the vehicle. The term of the loan is 5 years. The interest rate is 5% APR. The loan is a closed end credit loan. There is no trade-in. Sales tax is 7%. Documentation fee is $275. 4. What is the monthly payment? $410.00 $371.39 $338.82 $396.51