Asking Price of the car $8,999

Lender	Length of loan in months	APR
America First Credit Union	7 Years (84 Months)	4%
Capital One	5 Years (60 Months)	3%

Often, people who purchase cars put some money down either in the form of cash up front or trading in a used car.

1. Calculate a 5% down payment

2. What is the amount you need to borrow to purchase your car?

3. Find the monthly payment for the first loan.

   1. How much will you pay in total for the car?

   2. How much total will you pay in interest?

4. Find the monthly payment for the second loan.

   1. How much will you pay in total for the car?

   2. How much total will you pay in interest?