Tim Smith is shopping for a used luxury car. He has found one
priced as $40,000. The dealer has told Tim that if he can come up
with a down payment of $7,500, the dealer will finance the
balance of the price at a 55% annual rate over 5years (60
months). (Hint: Use four decimal places for the monthly interest
rate in all your calculations.) a. Assuming that Tim accepts the
dealer's offer, what will his monthly (end-of-month) payment
amount...