Read each of the following information and questions carefully. Answer each question. Show your work in the space provided. Round all answers to the hundredth place. Problem #1 (25 Points) A person interested in a new vehicle finds one for a selling price of $28,900. The dealership offers to finance the vehicle but requires a down payment of 10%. The doc fees are $680, the registration fees are $2,750, the dealership charges a dealer fee of $750, and the sales tax is 2% of the selling price. a What is the down payment amount for this vehicle? b. What is the cost of the vehicle minus the down payment? C. What is the price before sales tax is added? d. What is the amount of the sales tax? e . What is the total amount of the loan needed to purchase this vehicle? Problem #2 (20 Points) You are deciding between buying and leasing a new vehicle. Your options are below. Option A: You can purchase a new vehicle for $31,950. You trade in your older vehicle that has a value of $7,400. Fees and taxes to buy the new vehicle are $4,806. The monthly payments are $850.42 a month for 3 years. After the vehicle is paid off the value is expected to be $15,010. Option B: You lease the same vehicle on a 3-year contract. The amount due at signing is $3,060, including the doc fee The lease payments are $395 a month. Answer the following questions. What is the total of the monthly payments? What is the cost for purchasing the vehicle after 3 years? What is the total cost for leasing the vehicle after 3 years? C. What is the difference between buying and leasing? Which option is better by comparing the total cost after 3 years