SOLVE 4 TO 6 (SHOW SOLUTION)

PLEASE WHEN ANSWERING IN WRITTEN FORM MAKE IT CLEAR AND UNDERSTANDABLE

4.You are financing a car worth$27,080.19with tax included.Interest rates are 13.2% compounded daily.Payments are monthly and made at the end of the month.You will own the car in 3 years. You have a down payment of $1,696.

Calculate the finance charge(interest charged on purchase).

5.You are financing a car worth$70,254.23with tax included.Interest rates are 6.9% compounded daily.Payments are monthly and made at the end of the month.You will own the car in 3 years. You have a down payment of $2,794.

Assume you drive 1,964 km in 2 years. Calculate the cost per kilometerper year.Round your answer to two decimal places. Do not enter the dollar sign. Sample input: 3.51

6.Leasing and buying is often a product of lifestyle and is specific to the purchaser.

• State two reasons why you think it would be a good idea to purchase a vehicle.
• State two reasons that it would be a good idea to lease a vehicle.