The LeLL.J4.JJ L ay Ullver: Allempl I Question 22 (4 points) You plan to buy a car that has a total drive-out" cost of $20,400. You will make a down payment of $1,632. The remainder of the car's cost will be financed over a period of 6 years. You will repay the loan by making equal monthly payments. Your quoted annual interest rate is 8% with monthly compounding of interest. (The first payment will be due one month after the purchase date.) What will your monthly payment be? $338.32 $326.88 $329.06 $381.96 $306.59 Question 23 (4 points) You are considering either leasing or purchasing a car. You notice an ad that says you can lease the car you want for $415.00 per month. The lease term is 60 months with the first payment due at inception of the lease. You must also make an additional down payment of $1,830. The ad also says that the residual value of the vehicle is $27,816. The list price of the vehicle is $39.894, but after much research, you have concluded that you could buy the car for a total "drive-out" price of $36,600. What is the quoted annual interest rate you are actually paying with the lease? APILIYuulo