Down Payment 500
Miles per month 750
Price of Gas 3.75
Car 1
Insurance $ 35.00
Cost $ 6,000.00
Registration (annual) $ 140.00
Loan Amount $ 5,500.00
Rate 4.00%
Loan Term in Months 36
MPG 40
Loan Payment ($162.38)
Total Monthly Expenses
Total Cost over 4 years

• Vary the Interest Rate from 3.00% to 6.00% by 0.25%
• Vary the Down Payment from $300 to $2,000 by $100

True or False:  The Total Monthly Expenses for a 3.50% loan with $1,000 down is less than a 6.00% loan with $1,100 down?