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Mike wants to buy a diesel truck which has an MSRP of $56,999. The dealer will finance the truck at 0.91% interest for 60 months.

Mike wants to buy a diesel truck which has an MSRP of $56,999. The dealer will finance the truck at 0.91% interest for 60 months. Mike thinks he can afford monthly payments of $911.00 per month. Can Mike afford the truck? Why?

Yes; the payments are exactly $911.00 per month.

Yes; the payments are than $901.80 per month.

No; the payments are $972.12 permonth.

No; the payments are $938.45 per month.

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