Sara bought a car for $40,000 upon graduation from college with an engineering degree and a very good job offer. A down payment of $1,500 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 6% nominal interest with 60 monthly payments. Compute the following using a spreadsheet. 4. Determine the monthly payment if payments if the first payment is due at the end of the first month. 5. Create an amortization schedule for the loan. 6. Suppose that Sara gets special terms from Generous Motors and is allowed to defer the first payment for 12 months (interest still accrues). Determine the monthly payment under this scenario. 7. Now suppose that Sara has the option to choose between scenario 1 above (no deferred payment) and a leasing option which requires $1,500 down and $400/ month for 36 months. If the vehicle is projected to have a value of $20,000 at the end of 36 months, which option should Sara pick