Question 6 o / 1 point For the problem above. I purchase a BMW for $70,000. If I receive a trade in allowance of $5,000 for my old car. What will my monthly payments be if my loan interest rate is 0.5% per month and the loan term is 84 months When will the loan balance be reduced to $%2,500 if I increase my payment to $1,225 per month? (answer to the nearest month) 60 62 64