1. You want to purchase a truck for $25,000 and you have $3,450 to put down.

a.How much will your payments be if you financed the truck for 60 months at 6%?

b.How much would the payment be if rate of interest is 5% and you only financed the truck for 48 months?

c.Assuming that you would only finance the truck for 4 years, how much would you need to put down to get your payment to $450.00?

d.What type of a problem is this? ___________