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3. Mikaela is considering a used Ford Explorer. She has found one with a list price of $12,500 and can get a 5 year loan
3. Mikaela is considering a used Ford Explorer. She has found one with a list price of $12,500 and can get a 5 year loan at 2.9% 1. What are her monthly payments? 2. How much total interest is paid if she makes all the payments? 3. What happens to the monthly payment is Mikaela puts $2,000 down as a down payment? 4. What happens if Mikaela puts $2,000 down AND pays an extra $50 on each monthly payment? 5. What is the interest payment at payment # 70
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