Use the following scenario to answer problem#16-19.You are interested in purchasing a new Honda Fit for $15,650.The sales tax in NC is 7%.The dealership informs you that you are eligible for two different financing options,

Loan A:finance for36 monthsat 0.9% or

Loan B:finance for60 monthsat 1.9%.

In both cases you have a trade in worth $1500 and intend to make a down payment of $500.

Find the principal amount (the amount that will be financed)$_______________