After sitting at a stop like with 3 McLarens, 2 Lambos, and a Ferrari, you decide it's time to stop living like a finance Ph.D. and get a new car from your Audi S6. Of course that doesn't stop you from doing some math. Your current car is paid off but costs you $300 a month in maintenance. You new McLaren would cost you $325,000 today. You would put nothing done. You would have an interest rate of 7.2% with monthly compounding. You'd pay off the loan in 5 years. If both cars are worth the zero after 5 years, how much more expensive is the McLaren per month?

Answer rating: 100% (QA)

To calculate the monthly cost of the McLaren we first need to calculat... View the full answer