Follow the same steps I just showed you here
http://www.jiskha.com/display.cgi?id=1478848733
The price of a new car is $32,000. Assume that an individual makes a down payment of 25% toward the purchase of the car and secures financing for the balance at the rate of 7%/year compounded monthly. (Round your answers to the nearest cent.)
What will the interest charges be if she elects the 48-month plan? The 72-month plan?
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