Vehicle Purchase. Find an automobile to purchase and include a printout of the vehicle along with the purchase/advertised price. I have set a maximum price of $50,000 on the desired auto. Purchase/ AdvertisedPriceS5 To cover tax, licensing and document fees add 10% to the above number Down Payment, used to lower the amount borrowed, no more than half the above Amount of money borrowed Use the following numbers to finance the vehicle: Time: 6 years ( 72 months ) Rate: 2.5% Simple interest Show work: A P(1+rt) Calculate the amount owed back to the lender How much in interest will you pay to finance the car Divide the amount owed to the lender by the number of months to get your Payment Payment