For this question, you must research two different ** new** cars and their prices.

a) State the make and model of the two cars that you have chosen and their prices.

(The following website can be used https://www.drive.com.au )

a) Choose ** one** of the vehicles that you researched in part (a). Assume you have a $5000 deposit and in order to buy the vehicle you have chosen, you will need to borrow the balance.

After paying the deposit, what is the balance (to the nearest $1000) needed to buy the car.

c) The loan table below gives monthly repayments per $1000 borrowed.

For the car that you have chosen, use the table to calculate the:

i) monthly repayment for a 12% p.a. loan over 5 years

ii) total to be repaid over the period of the loan

iii) total interest charged over the period of the loan

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