What is the answer and how to do it? 7. Alset Motors is offering the 2020 Tesla Model S Sedan (basic model) for $89,900. You "wheel and deal"and get the price down to $85,000 with no money down (100%-financing). The only difficulty is that themonthly payments on the 6.3%, seven-year loan are at the beginning of the month.What is the monthly payment on this loan?а.b.How much of the first payment is interest and how much is principal? (label them)How much of the sixteenth payment is interest and how much is principal? (label them)с.d.How much interest and how much principal would you pay in the loan's second year? (label them)How much interest and how much principal would you pay over the life of the loan? (label them)е. 6. Bradley Jones, age 27, is considering joining the MSIT Program in the fall of 2021. He is trying to figureout if the program is worth the investment (at least in financial terms). He figures the he will have to pay$30,000 per year tuition in October 2021 and then again in October 2022. He is certain the when hegraduates in June 2023 he will be able to command an increase in his salary -- either from his currentemployer or another employer -- as a direct result of the MSIT Program.Assume that Bradley requires a rate of return on his investment of 8.5% per annum and that his first salaryincrease resulting from his degree will take place in October 2023. Also assume that Bradley expects a3.5% annual increase in his salary throughout his career and that he will receive thirty-eight annualpaychecks after graduation, the first of which will be in October 2023.By how much must Bradley's salary increase in October 2023 to justify his outlays for tuition?

Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

7. Alset Motors is offering the 2020 Tesla Model S Sedan (basic model) for $89,900. You "wheel and deal" and get the price down to $85,000 with no money down (100%-financing). The only difficulty is that the monthly payments on the 6.3%, seven-year loan are at the beginning of the month. а. What is the monthly payment on this loan? b. How much of the first payment is interest and how much is principal? (label them) How much of the sixteenth payment is interest and how much is principal? (label them) с. d. How much interest and how much principal would you pay in the loan's second year? (label them) е. How much interest and how much principal would you pay over the life of the loan? (label them)