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You are considering buying a car for $7,000.00. You put $1,400.00 down and are thinking about taking out a 60 -month loan at 7.25% simple
You are considering buying a car for $7,000.00. You put $1,400.00 down and are thinking about taking out a 60 -month loan at 7.25% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be? At the end of 5 years, how much will you have to pay back? If you made monthly payments, how much would they be? How much will the car cost, in total
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