You are considering buying a car for $14,000.00. You put $2,800.00 down and are thinking about taking out a 60-month loan at 6.25% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be?

A First Course in Probability (10th Edition)
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Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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able of Contents > Chapter 5 Finance > Chapter 5 Homework > Chapter 5.2
Chapter 5.2
ĐERIVITA
Jessica Alvarado
Question 12 of 15
You are considering buying a car for $14,000.00. You put $2,800.00 down and are
thinking about taking out a 60-month loan at 6.25% simple interest to pay for the
rest. Round all answers to the nearest penny, if needed, unless otherwise directed.
How much will your principal be?
2$
At the end of 5 years, how much will you have to pay back?
If you made monthly payments, how much would they be?
earch
立
Transcribed Image Text:ps://d2l.pima.edu/d2l/le/content/536636/viewContent/5358554)VIEW ontent Calendar Assessments v Course Resources v Help v able of Contents > Chapter 5 Finance > Chapter 5 Homework > Chapter 5.2 Chapter 5.2 ĐERIVITA Jessica Alvarado Question 12 of 15 You are considering buying a car for $14,000.00. You put $2,800.00 down and are thinking about taking out a 60-month loan at 6.25% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be? 2$ At the end of 5 years, how much will you have to pay back? If you made monthly payments, how much would they be? earch 立
AT142 To X
Chapter 5.2 - 11969 MAT142 Top x
Ô https://d2l.pima.edu/d2l/le/content/536636/viewContent/5358554/View
Que
How much will the car cost, in total?
Ques
Sum
If you decided to take a 2 year loan at the same rate, what would your monthly
payments be? Assume equal monthly payments.
How much money would you save, if any, with the 2-year loan? Round your final
answer to the nearest whole dollar. If there are no savings, enter 'N A'.
CHECK ANSWER
arch
Transcribed Image Text:AT142 To X Chapter 5.2 - 11969 MAT142 Top x Ô https://d2l.pima.edu/d2l/le/content/536636/viewContent/5358554/View Que How much will the car cost, in total? Ques Sum If you decided to take a 2 year loan at the same rate, what would your monthly payments be? Assume equal monthly payments. How much money would you save, if any, with the 2-year loan? Round your final answer to the nearest whole dollar. If there are no savings, enter 'N A'. CHECK ANSWER arch
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