3 Jeff has $8,000 in his savings account. He is purchasing a car for $15,000. He plans to use the money in the savings account as a down payment and finance the remaining $7,o00. Jeff can only afford a monthly payment of $175. The car dealership has two payment options to meet this amount. Option A has a monthly payment of $156.96 for 60 months. Option B has a monthly payment of $166.00 for 48 months. Which payment option should Jeff choose? A Option A because Jeff saves $18.04 per month B Option A because Jeff makes smaller payments over 60 months c Option B because Jeff pays only $968.00 in interest D Either option because there is no difference in the total amount.

3 Jeff has $8,000 in his savings account. He is purchasing a car for $15,000. He plans to use the money in the savings account as a down payment and finance the remaining $7,o00. Jeff can only afford a monthly payment of $175. The car dealership has two payment options to meet this amount. Option A has a monthly payment of $156.96 for 60 months. Option B has a monthly payment of $166.00 for 48 months. Which payment option should Jeff choose? A Option A because Jeff saves $18.04 per month B Option A because Jeff makes smaller payments over 60 months c Option B because Jeff pays only $968.00 in interest D Either option because there is no difference in the total amount.

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Maps
News Translate
Missing
#3*
3 Jeff has $8,000 in his savings account. He is
purchasing a car for $15,000. He plans to use
the money in the savings account as a down
payment and finance the remaining $7,00o.
Jeff can only afford a monthly payment of
$175. The car dealership has two payment
options to meet this amount. Option A has a
monthly payment of $156.96 for 60 months.
Option B has a monthly payment of $166.00
for 48 months. Which payment option should
Jeff choose?
A Option A because Jeff saves $18.04 per
month
B Option A because Jeff makes smaller
payments over 60 months
c Option B because Jeff pays only $968.00 in
interest
D Either option because there is no difference
in the total amount.

Maps
News Translate
Missing
#4 *
Lindsey is denied a home loan to buy her first
house. The mortgage company says that her
credit score is too low. Which decision is
financially responsible and will increase her
credit score over time?
F Apply for another credit card to consolidate
all of her debt onto one credit card.
G Make a budget to reduce spending and
apply savings to payments on debt each
month.
H Find a new mortgage company and reapply
for the home loan.
Take out another loan to reduce payments
on current debt.
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