Your friend just got a five-year car loan for $40,000 with 6% interest rate (APR) and monthly payments. You explained to her that 6% is too high, and she could have saved a lot of money if she negotiated with the bank and got a 3% interest rate instead. (Show the basic formulas you relied on to answer question. Also show the steps/entries you took to solve the problem, whether you used algebra, a calculator, or Excel.) a) How much money would your friend have saved every month if the interest rate (APR) was 3% instead of 6%? (10 points) b) What is the present value of these monthly savings, if your friend plans on saving them in a bank account that pays 2% APR? (5 points)