Question
You are looking to buy a new vehicle and found a used Toyota Corolla for $19,000. You have $5,000 to put down and are looking
You are looking to buy a new vehicle and found a used Toyota Corolla for $19,000. You have $5,000 to put down and are looking to make payments on the rest.You received the following quote (assumetaxes, licensing, etc. are paid separately) show your work in detail. Wells Fargo will loan you the money you need at 8.5% over a 5 year term for $285.21 per month.
1. what is the total cost of the loan? 2.what is the total cost of the car? 3.what is the total amount of interest paid?
You are looking to buy a new vehicle and found a used Toyota Corolla for $19,000. You have $5,000 to put down and are looking to make payments on the rest.You received the following quote (assumetaxes, licensing, etc. are paid separately) show your work in detail. Wells Fargo will loan you the money you need at 8.5% over a 5 year term for $285.21 per month.
1. what is the total cost of the loan? 2.what is the total cost of the car? 3.what is the total amount of interest paid?
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Canadian Edition
0470836792, 978-0470836798
