You have the opportunity to purchase a used car in great condition for $14500.

You have the opportunity to purchase a used car in great condition for $14500. A $2000 down payment is required to receive 6% interest for 6 years. The
car you currently own is in perfect working condition but you would like a change. Your spouse recommends using the $2000 to remodel a bathroom in your
home. The remodel is estimated to bring the value of your home up by $5000. Determine the interest you will pay on the loan for the car. Considering the
opportunity cost (value of the next best alternative forgone as the result of making a decision) for the $2000 what should you do with the money?