1. What is your monthly payment if you choose 0% financing for 48 months? Round to the nearest dollar. 2. The rebate offer is $2600, and you can obtain a car loan at your local bank for the balance at 2.99% compounded monthly for 48 months. If you choose the rebate, what is your monthly payment? Round to the nearest dollar. 3.You want to make monthly payments of $413, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? Round to the nearest dollar.
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1. What is your monthly payment if you choose 0% financing for 48 months? Round to the nearest dollar.
2. The rebate offer is $2600, and you can obtain a car loan at your local bank for the balance at 2.99% compounded monthly for 48 months. If you choose the rebate, what is your monthly payment? Round to the nearest dollar.
3.You want to make monthly payments of $413, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? Round to the nearest dollar.
4.Suppose you make a down payment of 17% of $27,600 and finance the rest at 1.5% compounded monthly for 48 months. How much interest do you pay over the life of the loan? Round to the nearest dollar.
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