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). The cash price of a new automobile is 43,000. Camila is willing to finance the car at 4.5% convertible monthly and to make payments

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). The cash price of a new automobile is 43,000. Camila is willing to finance the car at 4.5% convertible monthly and to make payments of 550 at the end of each month for seven years. (1) Find the down payment which will be necessary. (5 marks) (ii) If Camila chose not to pay any down payment, how much extra should she pay each month for seven years under the same interest? (3 marks) [Total : 25 Marks]

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