Help Use PMT .8 Credit Cards 0 2 to complete your choice rate of 16%. With no further purchases charged to the card and the balance being paid off over five years, the monthly payment is $136, and the total interest paid is $2560. You can get a bank loan at 8.5% with a term of six years. Complete parts (a) and (b) below. a. How much will you pay each month? How does this compare with the credit-card payment each month? Select the correct choice below and far in the answer boxes (Do not round until the final answer. Then round to the nearest dollar as needed.) OA. The monthly payments for the bank loan are approximately $ This is less than the monthly credit card payments OB. The monthly payments for the bank loan are approximately. This is more than the monthly credit card payments. to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $5800 and an annual interest 3 of 3 (3 complete) HW Score: 66.67%, 2 or your answer(s) and then click Check Answer Question Help C# D Clo to find the monthly payments and the total inter Tab Window Help PE 1 of 6 (1 complete) rHomework.aspx?homeWorkId=570068103&question ork: 8.6/8.7 Cars and Home Ownership pt 0.1 Suppose that you borrow $15,000 for four years at 5% toward the purchase of a car. Use PMT = the loan The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Clear All LA r Contents ... the answer box and then click Check Answer. P 1-(+5) *** 2 of 6 (1 complete) S People Tab Window Help Do Homework - tudent/PlayerHomework.aspx?homeworkid=570068103&questi 020 mework: 8.6/8.7 Cars and Home Owners Score: 0 of 1 pt 8.6.5 Suppose that you are thinking about buying a car and have narrowed down your choices to two options. The new-car option: The new car costs $28,000 and can be financed with a four-year loan at 6.04%. The used-car option: A three-year old model of the same car costs $13,000 and can be financed with a three-year loan at 6.56%. What is the difference in monthly payments between financing the new car and financing the used car? Use PMT = The difference in monthly payments between financing the new car and financing the used car is $ (Round to the nearest cent as needed.) Plan Gradebook ents er box and then click Check Answer. S $2/06/2 6097409¢erwind Help ht Window Tab ple MayerHomework.aspx?homeworkld=570068TUS work: 8.6/8.7 Cars and Home Ownership O of 1 pt 3 of 6 (1 complete) HW Score: 0%, 0 of 6 pts 6.9 Question Help Suppose that you decide to buy a car for $57.000, including taxes and license fees. You saved $10,000 for a down payment. The dealer is offering you a choice between two incentives Incentive A is $5000 off the price of the car, followed by a five-year loan at 7.91% Incentive B does not have a cash rebate, but provides free financing (no interest) over five years. What is the difference in monthly payments between the two offers? Which incentive is the better deal? Use PMT=- The difference in monthly payments between the two offers is $ (Round to the nearest cent as needed.) end then click Check