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  3. suppose that you would like to buy a new car. the

Suppose that you would like to buy a new car. The price of the car...

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Accounting

Suppose that you would like to buy a new car. The price of the car is $25,500, the sales tax is 8%, and the title, license, and registration fee is $600. The dealer offered that you can pay 80% of the price of the car in four years (48 months) at an interest rate of 9% per year, compounded monthly.(Please draw cash flow diagram, take a photo and upload as a picture here. Use formula to answer this question.)

a. How much cash do you need to pay at the time you purchase the vehicle?

  1. b.How much is the monthly payment?

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