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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
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
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