Oh, boy! Look at that monthly payment from Question 2 above! Molly cannot afford the monthly payment using the 0% financing. She opens up Bankrate's Loan Calculator to see how much she'd pay with the other financing option. Please round all answers to the nearest cent. SHOW ALL WORK/CALCULATIONS FOR POINTS.

***the 2.74% is more manageable***

5. Remember that Molly has a $4500 down payment saved for this purchase. The dealer will take the $1200
Cash Allowance straight off her total. How much loan does Molly need?

6. Using the Loan Calculator and the 2.74% APR offer,how much will Molly's monthly payment be?

7. How much total interest will Molly pay using this plan?