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You purchase a car worth $28196 and make a down payment of $3935. You intend to...

You purchase a car worth $28196 and make a down payment of $3935. You intend to repay the balance of the car with month end car payments of $302 for 5 years and a final “buyout” at the end of 5 years. Money can earn 5.19% compounded semi-annually.

(a)What is the value of your car loan repayments in terms of dollars in 5 years?

(b)What is the value of the final buyout?

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