Question
Shirley Stewart is planning to buy a Toyota hybrid for $18,909 with $2,900 down and plans to finance the car. Citizens Financial Bank quoted a
| Shirley Stewart is planning to buy a Toyota hybrid for $18,909 with $2,900 down and plans to finance the car. Citizens Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted her a finance charge at 7.5% for 60 months. |
| a. | What would be her monthly payment to Citizens Financial Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) |
| Monthly payment | $ |
| b. | What would be her monthly payment to Charter One Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) |
| Monthly payment | $ |
| c. | How much more would her monthly payment be on the 48-month loan? (Do not round intermediate calculations. Round your answer to the nearest cent.) |
| More in monthly payment | $ |
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Essential Finance Guide
Authors: DK Publishing
1st Edition
078948157X, 978-0789481573
