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Pat Radigan is planning to buy a Toyota hybrid for $18,889 with $1,900 down and plans to finance the car. Citizens' Financial Bank quoted a
Pat Radigan is planning to buy a Toyota hybrid for $18,889 with $1,900 down and plans to finance the car. Citizens' Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted him a finance charge at 7.5% for 60 months. Required: a. What would be his monthly payment to Citizens' Financial Bank? Note: Do not round intermediate calculations. Round your answer to the nearest cent. b. What would be his monthly payment to Charter One Bank? Note: Do not round intermediate calculations. Round your answer to the nearest cent. c. How much more would his monthly payment be on the 48-month loan? Note: Do not round intermediate calculations. Round your answer to the nearest cent
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