You consider buying a car for a price of $34,000. The car is to be bought on credit with an annual interest rate of 4.25%. The credit will be repaid in monthly constant total payments spread over 60 months. The dealer makes a "special" offer to you: a one-year grace period, which means that the first payment will be made only one year after the car is bought (however this period is subject to interest!!!). 1. What is the nominal monthly interest rate? a. b. How much do you owe when you make the first payment? Construct a table for the principal, the interest, the repayment and the cashflow for each month. Use appropriate formatting. [Time 0-11 (months): total payment -0; Time 12 60: total payment ??] c