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Using the following information, what is the cost to buy a car? Down payment $ 4 , 5 0 0 Monthly loan payment $ 5

Using the following information, what is the cost to buy a car?
Down payment $4,500
Monthly loan payment $525 per month for a six-year loan
Opportunity cost of down payment $4,500\times loan period (in years)\times 2% interest
Estimated value of vehicle at end of ownership period $5,500
Multiple Choice
$4,500.00
$37,340.00
$37,800.00
$42,300.00
$32,300.00

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