Will give ! you (or your parents) purchase a used car for $15,867 plus 5.25% sales tax. the down payment is 10% of the total cost and you have excellent credit rating. what is your principal balance at the start of the loan? apr for excellent credit rating is 5.25%,

To answer this question you will not need the APR of 5.25%.

You will calculate your cost with sales tax by multiplying $15867 by 1.0525. The amount is $16700.02.

You put 10% down, so this leaves you with 90% to pay. Next, multiply 0.90 by 16700.02.

You will have a starting principal of $15030.02.

You can use a calculater and divide the minutes by the $$, hope that you