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Mikaela is considering a used Ford Explorer. She has found one with a list price of $14,500 and can get a 5 year loan at
Mikaela is considering a used Ford Explorer. She has found one with a list price of $14,500 and can get a 5 year loan at 4.5%. What are her monthly payments? How much interest is paid? What happens to the monthly payment is Mikaela puts $2,000 down as a down payment? What happens if Mikaela puts $2,000 down AND pays an extra $50 on each monthly payment? What is the interest payment at payment # 70?
Mikaela is considering a used Ford Explorer. She has found one with a list price of $14,500 and can get a 5 year loan at 4.5%.
What are her monthly payments?
How much interest is paid?
What happens to the monthly payment is Mikaela puts $2,000 down as a down payment?
What happens if Mikaela puts $2,000 down AND pays an extra $50 on each monthly payment?
What is the interest payment at payment # 70?
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