You are considering buying a new car for $37,000. If you purchase the car you will pay $7,000 of the purchase price as a down payment
Added by Guillermo S.
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Step 1: Determine the total purchase price of the car, which is $37,000. Show more…
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Akash M.
Suppose you decide to postpone your purchase of the $24,000 car for one year to save up more money to add to your $4,000 down payment. You decide to save $400 per month for exactly one year. Round/take all answers to the nearest cent. E.g., 32.57, 23.00 Including the $4,000 you originally had and the money you saved up over the year, calculate your new down payment. $ 8900.25 Now you will finance the rest of the price of the car with a 5 year loan at 4.5% APR. Calculate the loan principal. $ 15099.75 Calculate the monthly payment. $ 281.50 Calculate the total/sum of payments for the loan. $ 16890.00 Calculate the total amount of interest paid over the term of the loan. $ 1790.00 Altogether, including the down payment, what was the total cost of this car after financing the purchase? $ 25790.25
Jason G.
You want to buy a used car for $8,648.00 plus 4.7% sales tax. You want to make a 5% down payment. How much is your down payment? $395.50 $452.72 $410.47 $474.03
Victor S.
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