After about 10 months of saving $500 a month, the Sampsons have achieved their goal of saving $5,00 that they will use as a down payment on a new car. (They have also been saving an additional $300 per month over the last year for their children's college education) Sharon's new car is priced at $25,000 plus 5 percent sales. tax. She will receive a $1,000 trade-in credit on her existing car and will make a $5,000 down payment on the new car. The Sampsons would like to allocate a maximum of $500 per month to the loan payments on Sharon's new car. The annual interest rate on a car loan is currently 7 percent. They would perfer to have a relatively short loan maturity, but cannot afford a monthly payment higher than $500