You are considering the purchase of a delivery truck that would cost $22,000. The bank will require that you make a 10% down payment. You can finance the truck for 7 years at 6.5% interest.

a. How much will your down payment be?

b. How much will you borrow from the bank?

c. How much will the monthly payment be on this truck?

d. How much will you pay in total interest (finance charge) during the 7 years of this loan?