The price of a new car is $$36,000.$ Assume that an individual makes a down payment of $25\%$ toward the purchase of the car and secures financing for the balance at the rate of

$7\frac{\%}{?}$ year compounded monthly.

$($a$)$ What monthly payment $($in $$)$ will she be required to make if the car is financed over a period of $36$ months? Over a period of $60$ months? $($Round your answers to the

nearest cent.$)$

$($i$)36$ months

$

$($ii$)60$ months

$

$($b$)$ What will the interest charges $($in $ $)$ be if she elects the $36-$month plan? The $60-$month plan? $($Round your answers to the nearest cent.$)$

$($i$)36-$month plan

$

$($ii$)60-$month plan

$