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Posted on Aug 08, 2024

Vito Scaletta just bought his dream car, a 2024 Bugatti Divo, that cost $6,800,320. He paid $600,000 down and financed the balance over 72 months

Vito Scaletta just bought his dream car, a 2024 Bugatti Divo, that cost $6,800,320. He paid $600,000 down and financed the balance over 72 months at 8.55% p.a. If Vito makes all required payments on time, what is the total amount of interest that Vito will pay over the entire term of the loan (that is, the total amount of interest that is paid on payments 1 through 72)

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