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Molly is celebrating her exciting new career and wants to upgrade her junky old car for a shiny new Jeep Patriot. She heads to Jeep's website and sees the following financing deals: Latitude 4x4 Sport Sport SE Latitude FWD High Altude Finance for 0% APR For 36 months Plus up to $1,500 Cash Allowance 4x4 MSR Starting at $17,595 MS Starting at $19,740 MSA Stingat $25,495 MSAP Starting at $24,775 20 ohye hiy EPA MPO 24-Cher 4 OCHO 16-Valve Qual WT Engine Finance for 1.9% APR For 84 months Plus up to $500 Cash Allowance DADI 2,000 & Towing View Standard Features Note: For this activity, assume Molly's going to pay the exact MSRP of $25,495. This is most likely NOT true, but we'll use it for simplicity. Part 1: 0% APR sounds PERFECTI Answer the following questions using the details from the 0% offer above. Please round all answers to the nearest dollar. SHOW ALL WORK. 1. Molly has a $2500 down payment saved for this purchase, and the dealer's $1500 Cash Allowance will come straight off her total. How much loan does Molly need?

Molly is celebrating her exciting new career and wants to upgrade her junky old car for a shiny new Jeep Patriot. She heads to Jeep's website and sees the following financing deals: Latitude 4x4 Sport Sport SE Latitude FWD High Altude Finance for 0% APR For 36 months Plus up to $1,500 Cash Allowance 4x4 MSR Starting at $17,595 MS Starting at $19,740 MSA Stingat $25,495 MSAP Starting at $24,775 20 ohye hiy EPA MPO 24-Cher 4 OCHO 16-Valve Qual WT Engine Finance for 1.9% APR For 84 months Plus up to $500 Cash Allowance DADI 2,000 & Towing View Standard Features Note: For this activity, assume Molly's going to pay the exact MSRP of $25,495. This is most likely NOT true, but we'll use it for simplicity. Part 1: 0% APR sounds PERFECTI Answer the following questions using the details from the 0% offer above. Please round all answers to the nearest dollar. SHOW ALL WORK. 1. Molly has a $2500 down payment saved for this purchase, and the dealer's $1500 Cash Allowance will come straight off her total. How much loan does Molly need?

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
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0 Molly is celebrating her exciting new career and wants to upgrade her junky old car for a shiny new Jeep Patriot. She heads to Jeep's website and sees the following financing deals: Latitude 4x4 Sport Sport SE Latitude FWD High Altitude Finance for 0% APR For 36 months Plus up to $1,500 Cash Allowance 4x4 MSR Starting at $17,595 MSR Starting at $19,740 MSRP Starting at $25,495 MSRP Starting at $24,775 B 20 aty20 hry, EPA est MPO 101 24-Uher 14 DOHC 16-Valve Qual WT Engine Finance for 1.9% APR For 84 months Plus up to $500 Cash Allowance Eb AutoSticke Automatic Transmission 201 CHCW 4 2,000 b Towing Capacity Maximum View Standard Features Note: For this activity, assume Molly's going to pay the exact MSRP of $25,495. This is most likely NOT true, but we'll use it for simplicity. Part 1: 0% APR sounds PERFECT! Answer the following questions using the details from the 0% offer above. Please round all answers to the nearest dollar. SHOW ALL WORK. 1. Molly has a $2500 down payment saved for this purchase, and the dealer's $1500 Cash Allowance will come straight off her total. How much loan does Molly need?
Transcribed Image Text:0 Molly is celebrating her exciting new career and wants to upgrade her junky old car for a shiny new Jeep Patriot. She heads to Jeep's website and sees the following financing deals: Latitude 4x4 Sport Sport SE Latitude FWD High Altitude Finance for 0% APR For 36 months Plus up to $1,500 Cash Allowance 4x4 MSR Starting at $17,595 MSR Starting at $19,740 MSRP Starting at $25,495 MSRP Starting at $24,775 B 20 aty20 hry, EPA est MPO 101 24-Uher 14 DOHC 16-Valve Qual WT Engine Finance for 1.9% APR For 84 months Plus up to $500 Cash Allowance Eb AutoSticke Automatic Transmission 201 CHCW 4 2,000 b Towing Capacity Maximum View Standard Features Note: For this activity, assume Molly's going to pay the exact MSRP of $25,495. This is most likely NOT true, but we'll use it for simplicity. Part 1: 0% APR sounds PERFECT! Answer the following questions using the details from the 0% offer above. Please round all answers to the nearest dollar. SHOW ALL WORK. 1. Molly has a $2500 down payment saved for this purchase, and the dealer's $1500 Cash Allowance will come straight off her total. How much loan does Molly need?
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