Two parts to the question:

1A. I am planning to buy a brand new Tesla. The price (after tax) is $83,500. They're offering conventional car loan, five years, at 4.24%. What should I expect my monthly payment to be?

a. 1,101.01

b. 1,206.25

c. 1,335.36

d. 1,547.22

1B. Tesla is out of the question. We can budget for a shiny new Toyota Yaris. Same term, conventional loan, five years, 3.65%, with monthly payment. Price is $14,250. What should I expect my monthly payment to be?

a. 282.15

b. 273.01

c. 260.19

d. 245.35