Mathematics, 11.10.2021 21:30 vpowell5371
Ed wants to buy a car for $17,500. His Credit union approves him for a car loan with a 6.8% APR as long as you puts 20% down. He is looking into the following options.
1) How much money would Ed have to put down to qualify for the loan?
2) What would the loan amount be?
Option A: Pay $400 per month.
3) What would be the length of his loan? Round to the nearest tenth of a year.
4) What is the total amount of interest Ed would pay over the life of this loan?
Option B: Pay $350 per month.
5) What would be the length of his loan? Round to the nearest tenth of a year.
6) What is the total amount of interest Ed would pay over the life of this loan?
Answers: 3
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Ed wants to buy a car for $17,500. His Credit union approves him for a car loan with a 6.8% APR as l...
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