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Your pickup truck is high mileage and needing replacement. You have purchased a brand new F250 XLT 4 door pickup truck. You were able to
Your pickup truck is high mileage and needing replacement. You have purchased a brand new F250 XLT 4 door pickup truck. You were able to negotiate a total cost of $38,000 for this vehicle. The sales tax in Texas for all vehicle purchases less trade-in value in Texas is 6.25% and you want to add this tax to the loan. You have decided to finance this vehicle for 7 years through Texas Tech Federal Credit Union for 3.9%. During the first year (ie. 12 months) how much interest did you pay? Using a financial calculator
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