1. You are about to purchase a new car, which will cost you $25,000 after taxes and fees. You are planning to pay a $5,000 down payment and then take out a five-year auto loan at an APR of 4.5%. You will make a monthly payment for next five years starting a month from today. How much is your loan payment each month?

• $297.86

• $372.86

• $296.75

• $466.08

• $371.47