Scenario: You are in need of a car. After much research you have decided to purchase a new $2024$

Chevrolet Bolt. The list price for the car at the local dealership is $$27,495$ including tax, title, and license.

When you visit the dealership the finance manager provides you with three purchasing options.

Option A: $5\mathrm{.}29\%$ APR, compounded monthly, for $72$ months with $$0$ down at the time of purchase

Option B: $0\%$ APR, compounded monthly, for $48$ months with $$2000$ down at the time of purchase

Option C: $4\mathrm{.}67\%$ APR, compounded monthly, for $60$ months with $$4000$ down at the time of

purchase

Directions: Write out all of your work and answers to the financial scenario above on the provided pages

below.

$1.$ For each purchasing option, compute $($with work shown$)$

$$ the required monthly payment,

$$ for the first loan payment, how much money will go towards interest and how much money will go

towards the outstanding balance, and

$$ the total amount you will have paid for your car?

Option A: $5\mathrm{.}29\%$ APR, compounded monthly, for $72$ months with $$0$ down at the time of purchase