Check my wor It sputtered and squeaked and with a small hesitation followed by an abbreviated lunge, it was finally over Or Reliable, the car Jamie Lee had driven since she first earned her cilver's license at the age of 17. completed its last mile. Thirteen years and 140.000 miles loter it was time for a new vehicle. After skiewing the Sunday newspaper and browsing the online advertisements, Jamie Lee was ready to visit car dealers to see what vehicles would interest her. She was unsure if she would purchase a car brand new, used, finance with a down payment, or lease. "No money down and only $223 a month Jamie Lee read. With approved credit" Sounded like an offer she would be interested in Jamie Lee knew she had a good credit rating as she made sure she paid all of her bills on time each month, and kept a close eye on her credit score ever since she was the victim of identity theft several years ago. The more she thought about the brand new car, the more excited she become. That new car fit her personality perfectly! As Jamie Lee Inquired about the advertised vehicle with the new car salesperson, her excitement quickly turned to dismay. The automobile advertised was available for $223 a month with no money down, based on approved credit, but Jamie Lee unexpectedly found that there were further qualifications in order to get the advertised price. The salesman explained that the information in the fine print of the newspaper advertisement stated that the price was based on all of the following criteria being active in the military, a college graduate within the last three months, a current lessee of the automobile company, and having a top tier credit score, which he noted was above 800. If Jamie Lee did not meet all of the qualifications, she would not receive the price advertised in the promotion. But, he noted, he could get her in that vehicle, but it would cost her an additional $130 per month. Two hundred and seventy-five dollars was the maximum Jamie budgeted for a monthly payment. This vehicle was outside of her financial plan Jamie Lee had to start over from scratch. She decided that she must fully research the vehicle purchase process before browsing at another dealership. She felt she was getting caught up in the moment and vowed to do her research before speaking with another Salesperson Complete the table below to compare the costs and benefits of a cash purchase versus a credit purchase. Each answer must have a Wolve for the assignment to be complete. Enter "O" for any unused categories See below for the necessary data. See Addendum for the necessary data Research for Nissan Versa Sedan 2016 *4 speed automatic "Air conditioning "Bluetooth hands-free phone system Credit Purchase Lease Total price of car Down payment (-) Amount financed Length of time Interest rate $14,995.00 $890.00 $16,440.00 60 MONTHS 3.58% Total price of car $14,995.00 Acquisition fee (+) $615.00 Adjusted capitalized cost $15,490.00 36 Length of time MONTHS Security deposit $325.00 es Monthly payment $299.00 Monthly payment $274.00 Savings account interest earned rate = 1.04% Estimated value of car at end of loan - $6,300 www.nissanusa.com Jamie Lee intends to use the car for at least five years before selling or trading it for a small SUV. Note that there is a $400 rebate offer for cash purchase. The tax is calculated using the Total cost of vehicle. . Total cost of vehicle Tax Tags and registration (delivery/set up fees) $14,995.00 [3%) $80.00 The tax is calculated using the Total cost of vehicle. $14,995.00 [3%) Total cost of vehicle Tax Tags and registration (delivery/set up fees) $80.00 es 2017 Nissan Versa CASH PRICE Selling price Sales tax Additional charges (delivery, setup, service contract) Discounts (employee, senior citizen, or student discounts, discounts for paying cash) Opportunity cost (= Net cost of item x percent interest that could be earned x years of use) Total financial and economic cost when paying cash CREDIT PRICE Down payment Financing (= Monthly payment x number of months) Additional financing charges (application fee, credit report, credit life insurance) Product-related charges (delivery, setup) Discounts that may apply Total financial and economic cost when using credit Check my wor It sputtered and squeaked and with a small hesitation followed by an abbreviated lunge, it was finally over Or Reliable, the car Jamie Lee had driven since she first earned her cilver's license at the age of 17. completed its last mile. Thirteen years and 140.000 miles loter it was time for a new vehicle. After skiewing the Sunday newspaper and browsing the online advertisements, Jamie Lee was ready to visit car dealers to see what vehicles would interest her. She was unsure if she would purchase a car brand new, used, finance with a down payment, or lease. "No money down and only $223 a month Jamie Lee read. With approved credit" Sounded like an offer she would be interested in Jamie Lee knew she had a good credit rating as she made sure she paid all of her bills on time each month, and kept a close eye on her credit score ever since she was the victim of identity theft several years ago. The more she thought about the brand new car, the more excited she become. That new car fit her personality perfectly! As Jamie Lee Inquired about the advertised vehicle with the new car salesperson, her excitement quickly turned to dismay. The automobile advertised was available for $223 a month with no money down, based on approved credit, but Jamie Lee unexpectedly found that there were further qualifications in order to get the advertised price. The salesman explained that the information in the fine print of the newspaper advertisement stated that the price was based on all of the following criteria being active in the military, a college graduate within the last three months, a current lessee of the automobile company, and having a top tier credit score, which he noted was above 800. If Jamie Lee did not meet all of the qualifications, she would not receive the price advertised in the promotion. But, he noted, he could get her in that vehicle, but it would cost her an additional $130 per month. Two hundred and seventy-five dollars was the maximum Jamie budgeted for a monthly payment. This vehicle was outside of her financial plan Jamie Lee had to start over from scratch. She decided that she must fully research the vehicle purchase process before browsing at another dealership. She felt she was getting caught up in the moment and vowed to do her research before speaking with another Salesperson Complete the table below to compare the costs and benefits of a cash purchase versus a credit purchase. Each answer must have a Wolve for the assignment to be complete. Enter "O" for any unused categories See below for the necessary data. See Addendum for the necessary data Research for Nissan Versa Sedan 2016 *4 speed automatic "Air conditioning "Bluetooth hands-free phone system Credit Purchase Lease Total price of car Down payment (-) Amount financed Length of time Interest rate $14,995.00 $890.00 $16,440.00 60 MONTHS 3.58% Total price of car $14,995.00 Acquisition fee (+) $615.00 Adjusted capitalized cost $15,490.00 36 Length of time MONTHS Security deposit $325.00 es Monthly payment $299.00 Monthly payment $274.00 Savings account interest earned rate = 1.04% Estimated value of car at end of loan - $6,300 www.nissanusa.com Jamie Lee intends to use the car for at least five years before selling or trading it for a small SUV. Note that there is a $400 rebate offer for cash purchase. The tax is calculated using the Total cost of vehicle. . Total cost of vehicle Tax Tags and registration (delivery/set up fees) $14,995.00 [3%) $80.00 The tax is calculated using the Total cost of vehicle. $14,995.00 [3%) Total cost of vehicle Tax Tags and registration (delivery/set up fees) $80.00 es 2017 Nissan Versa CASH PRICE Selling price Sales tax Additional charges (delivery, setup, service contract) Discounts (employee, senior citizen, or student discounts, discounts for paying cash) Opportunity cost (= Net cost of item x percent interest that could be earned x years of use) Total financial and economic cost when paying cash CREDIT PRICE Down payment Financing (= Monthly payment x number of months) Additional financing charges (application fee, credit report, credit life insurance) Product-related charges (delivery, setup) Discounts that may apply Total financial and economic cost when using credit