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Use the following information to answer the questions about Molly and her car purchase: Latitude 4x4 MSRP Starting at: Sport $17,595 MSRP Starting at: Sport
Use the following information to answer the questions about Molly and her car purchase: Latitude 4x4 MSRP Starting at: Sport $17,595 MSRP Starting at: Sport SE $19,740 Latitude MSRP Starting at: FWD 4x4 $25,495 MSRP Starting at: High Altitude $24,775 20 city/26 hwy EPA est. MPG 2.4-Liter 14 DOHC 16-Valve Dual WT Engine AutoStick Automatic Transmission 2,000 lb Towing Capacity: Maximum View Standard Features Finance for 0% APR For 36 months Plus up to $1,500 Cash Allowance Finance for 1.9% APR For 84 months Plus up to $500 Cash Allowance Note: For this activity, assume Molly's going to pay the exact MSRP of $25,495. This is most likely NOT true, but we'll use it for simplicity. Question 1 (1 point) Saved Listen Molly has a $2500 down payment saved for this purchase, and the dealer's $1500 Cash Allowance will come straight off her total. Lucky for Molly she has excellent credit and is eligible for 0% APR. How much loan does Molly need? (No dollar sign, round to the nearest whole dollar)
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