Hello,

With the problem below I'm having trouble with cost of credit, opportunity cost and Trade-Offs.

In this scenario you Will calculate the monthly payment and total interest paid on a car loan. Suppose that you need $15,000 to buy a used vehicle to get back and forth to work and school. You have $7,500 in a money market fund eaming 1.00% per year, but you are not sure you want to use any or all of that money. For example, if you have the correct formula but puta decimal in the wrong spot you could eam partial credit. The first row in the table has been completed to demonstrate you how work can be - 917.52 shown. Loan ount ,500 ,500 10,000 15,000 Interest Rate Monthly Loan Payment otal Amount of Interest = (Monthly mount Borrowed divided by Loan Payment * Term * 12) - Loan able Factor in Exhibit I-D" mount years years years years divided b 12 Example: 233.82 Example: