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Parker has two options for buying a car. Option A is 4.1% APR financing over 72 months and Option B is 6.1% APR over 72
Parker has two options for buying a car. Option A is 4.1% APR financing over 72 months and Option B is 6.1% APR over 72 months with $2200 cash back, which he would use as part of the down payment. The price of the car is $25075 and Parker has saved $2500 for the down payment. Find the total amount Parker will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.
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