Suppose that Kathy has $30,000 remaining on a car loan with an annual interest rate of 13%. Kathy wants to pay off the loan in 13years. Assume that Kathy can refinance the loan 5%.

(a) What are Kathy monthly payments on the original loan?

(b) How much will Kathys new monthly payments be?

(c) How much interest will Kathy save over the 13 years?

(d) Test several interest rate's between 1% and 5% such that $28,206.98 will be saved over the 13 years?