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c. (8 points) Using your answer from part b, explore your loan options listed in the table below. Select two of these loan options for
c. (8 points) Using your answer from part b, explore your loan options listed in the table below. Select two of these loan options for your chosen vehicle. Complete the two columns in the chart by determining the monthly payment and overall interest paid for each loan type. If you use the formulas from class, show your work and hand it in with part 2. If you use the online calculator, Car Loan Calculator, take a screen shot and include it when you turn in part 2. The link will be available in D2L on the homepage. ***Round up to the next cent d. (3 points) Compare the rate, length of loan, monthly payment, and interest on the loan. What do you notice about these amounts (look at what happens to the other values if the length of the loan changes)? Does that influence which loan you decide to take out? Write AT LEAST 2-3 sentences to answer these questions. c. (8 points) Using your answer from part b, explore your loan options listed in the table below. Select two of these loan options for your chosen vehicle. Complete the two columns in the chart by determining the monthly payment and overall interest paid for each loan type. If you use the formulas from class, show your work and hand it in with part 2. If you use the online calculator, Car Loan Calculator, take a screen shot and include it when you turn in part 2. The link will be available in D2L on the homepage. ***Round up to the next cent d. (3 points) Compare the rate, length of loan, monthly payment, and interest on the loan. What do you notice about these amounts (look at what happens to the other values if the length of the loan changes)? Does that influence which loan you decide to take out? Write AT LEAST 2-3 sentences to answer these questions
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