Before purchasing a used car Cody Lind checked www kbb com to learn what he should offer for the used car he wanted to buy Then he conducted a carfax com search on the car he found to see if the car had ever been in an accident The Carfax was clean so he purchased the used car for $14,250 He put $1,300 down and financed the rest with a 48 month 85 Ioan What is his monthly car payment by table lookup (Use Table 14 2) (Do not round intermediate calculations Round your answer to the nearest cent ) Monthly payment TABLE 14 2 Loan amortization table (monthly payment per $1,000 to pay principal and Interest on Installmont loan) Terms in months 6 8 50 8 00 $170 58 $170 83 10 00 $17156 87 92 10 50 $17181 88 15 12 7 50 $170 34 86 76 58 92 4500 36 66 31 11 11 50 $17230 88 62 60 75 18 9 00 $171 20 87 46 59 60 45 69 37 35 31 80 60 06 46 14 24 46 84 11 00 $17205 8838 60 52 4661 38 28 3274 28 79 86 99 59 15 45 23 3689 31 34 27 38 2442 22 12 20 28 30 87 22 5937 45 46 37 12 31 57 27 62 2465 2236 20 52 60 29 4638 38 04 3250 28 55 25 60 36 12 00 5172 55 88 85 60 98 4707 38 75 33 21 29 28 26 33 2406 22 24 42 3781 32 27 28 32 25 36 23 07 21 25 27 85 48 38,51 32 98 29 03 26 09 23 81 21 99 27 15 24 18 21 88 20 04 24 77 SA 25 85 23 56 2259 23 32 21 49 ED 20 76 2174 TABLE 14 2 (concluded Terms in months 6 12 12 50 517280 89 00 6121 4731 3898 33 45 2952 26 5 2431 22 50 13 00 517304 89 32 6145 4754 3922 3369 2976 2683 2456 2275 20 36 42 13 50 517329 89 55 6168 4778 39 46 33194 9001 270B 2481 2301 14 00 $12354 89 79 5192 4801 39 70 2018 14 50 5173 79 90 02 6215 48 25 39 94 3442 30 50 27 58 2532 2351 15 00 $17403 90 26 6238 48 49 40 18 34 67 15 50 5174 28 9049 52 6 48 72 40 42 34 91 31 00 20 2584 2405 16 00 $17 50 9073 6286 48 96 4066 35 16 3125 2834 26 10 2032 3075 30 25 2733 25 06 23 27 541 2783 2558 2379

Question

Before purchasing a used car  Cody Lind checked www kbb com to learn what he should offer for the used car he wanted to buy  Then he conducted a carfax com search on the car he found to see if the car had ever been in an accident The Carfax was clean so he purchased the used car for $14,250  He put $1,300 down and financed the rest with a 48 month 85  Ioan  What is his monthly car payment by table lookup  (Use Table 14 2) (Do not round intermediate calculations  Round your answer to the nearest cent ) Monthly payment TABLE 14 2 Loan amortization table (monthly payment per $1,000 to pay principal and Interest on Installmont loan) Terms in months 6 8 50 8 00  $170 58 $170 83 10 00  $17156 87 92 10 50  $17181 88 15 12 7 50  $170 34 86 76 58 92 4500 36 66 31 11 11 50  $17230 88 62 60 75 18 9 00  $171 20 87 46 59 60 45 69 37 35 31 80 60 06 46 14 24 46 84 11 00  $17205 8838 60 52 4661 38 28 3274 28 79 86 99 59 15 45 23 3689 31 34 27 38 2442 22 12 20 28 30 87 22 5937 45 46 37 12 31 57 27 62 2465 2236 20 52 60 29 4638 38 04 3250 28 55 25 60 36 12 00  5172 55 88 85 60 98 4707 38 75 33 21 29 28 26 33 2406 22 24 42 3781 32 27 28 32 25 36 23 07 21 25 27 85 48 38,51 32 98 29 03 26 09 23 81 21 99 27 15 24 18 21 88 20 04 24 77 SA 25 85 23 56 2259 23 32 21 49 ED 20 76 2174 TABLE 14 2 (concluded Terms in months 6 12 12 50  517280 89 00 6121 4731 3898 33 45 2952 26 5 2431 22 50 13 00  517304 89 32 6145 4754 3922 3369 2976 2683 2456 2275 20 36 42 13 50  517329 89 55 6168 4778 39 46 33194 9001 270B 2481 2301 14 00  $12354 89 79 5192 4801 39 70 2018 14 50  5173 79 90 02 6215 48 25 39 94 3442 30 50 27 58 2532 2351 15 00  $17403 90 26 6238 48 49 40 18 34 67 15 50  5174 28 9049 52 6 48 72 40 42 34 91 31 00 20 2584 2405 16 00  $17 50 9073 6286 48 96 4066 35 16 3125 2834 26 10 2032 3075 30 25 2733 25 06 23 27 541 2783 2558 2379

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Before purchasing a used car. Cody Lind checked www.kbb.com to learn what he should offer for the used car he wanted to buy. Then he

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