Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are graduating and need a car. We often make poor financial choices when we only consider the monthly payment, so your focus will be

image text in transcribed

You are graduating and need a car. We often make poor financial choices when we only consider the monthly payment, so your focus will be the total four year cost. Create a Data Table varying the Price of Gas from 3.89 to 4.59 by $0.10, and the monthly insurance from $35 to $49 by $2.00 Given the automobile in the downloaded file, what is the total four year cost when gas is $4.39 and its monthly insurance cost is $47 ?

\begin{tabular}{|c|c|} \hline Down Payment & 250 \\ \hline Miles per month & 650 \\ \hline \multirow[t]{2}{*}{ Price of Gas } & 4.29 \\ \hline & Car 1 \\ \hline Insurance & 38.00 \\ \hline Cost & $9,500.00 \\ \hline Registration (annual) & $140.00 \\ \hline Loan Amount & $9,250.00 \\ \hline Rate & 6.20% \\ \hline Loan Term in Months & 36 \\ \hline MPG & 40 \\ \hline Loan Payment & ($282.24) \\ \hline Total Monthly Expenses & \\ \hline Total Cost over 4 years & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Finance For Non Financial Managers

Authors: Dora Hancock

1st Edition

0749480017, 9780749480011

More Books

Students also viewed these Finance questions

Question

Identify ways to increase your selfesteem.

Answered: 1 week ago