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Kevin and Ken are twins and they just graduated from State University. Their parents gifted them $50,000 each. Both of them needed new vehicles. This
Kevin and Ken are twins and they just graduated from State University. Their parents gifted them $50,000 each. Both of them needed new vehicles. This is how they bought their new cars Kevin Bought a car that cost 35,000 Financed for 60 months Interest rate 5% How much did kevin pay in interest? Ken Bought a car that cost 15,000 Financed for 36 months Interest rate 5% How much did ken pay in interest? 1. What is the difference between what Kevin and Ken paid in interest for their auto loans. 2. Take the difference and invest it for twenty years at 7% interest compounding quarterly, additional monthly contribution of $30. How much after twenty years
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