Sarah negotiated a price of $24,980.00 for a new Toyota Camry Hybrid Sedan. She is prepared to
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Sarah negotiated a price of $24,980.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 15 %. Her credit union offered her a 5-year amortized loan for the remaining amount at a rate of 1.95 %.
How much money will be paid in interest?
What will the monthly payment be?
How much will the car cost, in total?
If she got a simple interest loan at the same interest rate and time, how much would she pay in interest?
Expert Answer:
Financing the Toyota Camry Hybrid Sedan 1 Down Payment Price of the car 2498000 Down payment percentage 15 Down payment amount Price of car Down payme... View the full answer
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