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 6%/year compounded monthly. (Round your answers to the nearest cent.) (a) What monthly payment will she be required to make if the car is financed over a period of 24 mo? Over a period of 36 mo? 24 mo $ x 36 mo $ X (b) What will the interest charges be if she elects the 24-mo plan? The 36-mo plan? 24 mo $ x 36 mo $ x Need Help? Read It Submit