The price of a new car is $20,000. Assume an individual makes a down payment of 25% toward the purchase of the car and secures financing for the balance at the rate of 8%/year compounded monthly. What monthly payment will she be required to make if the car is financed over a period of 24 months? What will the interest charges be if she elects the 24-month plan? Round your answers to the nearest cent. O R = $678.41; interest charges = $1,281.84 O R = $654.88; interest charges = $1,246.00 O R = $654.88; interest charges = $1,281.84 O R = $678.41; interest charges = $1,246.00