Your prospective client plans to purchase an automobile with a total "drive-out" cost of $32,000.The down payment will be $5,000.The balance of the purchase price will be financed at an annual interest rate of 3.5 percent for a period of five years.What will be the annual payments to the lender?
A)-4,978.50.
B)4,978.50.
C)-5,979.99.
D)5,979.99.

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The Answer of Your prospective client plans to purchase an automobile with a total "drive-out" cost of $32,000.The down payment will be $5,000.The balance of the purchase price will be financed at an annual interest rate of 3.5 percent for a period of five years.What will be the annual payments to the lender?
A)-4,978.50.
B)4,978.50.
C)-5,979.99.
D)5,979.99.

Your Prospective Client Plans to Purchase an Automobile with a Total