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please do parts a-d as well as the chart it is all oke question *all one question 3) Option 3 (Using financing offered by the
please do parts a-d as well as the chart it is all oke question
*all one question
3) Option 3 (Using financing offered by the dealer): Assume John agrees to the full asking price for the car (\$23,997) and the dealer agrees to provide financing for the full asking price. If the dealer offers him a payment option of 0% down payment and 6.096% interest compounded monthly for 5 years. a) Calculate the monthly payment that will be required to pay of the car? [5pts] PMT=(1(1+nr)nt)PV(nr)= b) When John is done paying the dealer for his car, what is the total he will have paid for the car? ... [2 pts] c) How much interest does John pay towards the financing over the 5 years? [1pts] d) Assuming that John is able to make payment for either Option 2 (getting personal loan) or Option 3 (financing with the dealer), what option saves more money for john and therefore the better option? [2 pts] How much money does John save if he selects the option suggested in previous step? e) Using your payment from Ontion wa 3) Option 3 (Using financing offered by the dealer): Assume John agrees to the full asking price for the car (\$23,997) and the dealer agrees to provide financing for the full asking price. If the dealer offers him a payment option of 0% down payment and 6.096% interest compounded monthly for 5 years. a) Calculate the monthly payment that will be required to pay of the car? [5pts] PMT=(1(1+nr)nt)PV(nr)= b) When John is done paying the dealer for his car, what is the total he will have paid for the car? ... [2 pts] c) How much interest does John pay towards the financing over the 5 years? [1pts] d) Assuming that John is able to make payment for either Option 2 (getting personal loan) or Option 3 (financing with the dealer), what option saves more money for john and therefore the better option? [2 pts] How much money does John save if he selects the option suggested in previous step? e) Using your payment from Ontion wa Step by Step Solution
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