Down Payment $800$

Miles per month $1100$

Price of Gas $3\mathrm{.}35$

My Car

Insurance $$35\mathrm{.}00$

Cost $$18,000\mathrm{.}00$

Registration $($annual$)$ $$185\mathrm{.}00$

Loan Amount $$17,200\mathrm{.}00$

Rate $4\mathrm{.}00\%$

Loan Term in Months $36$

MPG $40$

Loan Payment

Total Monthly Expenses without Payment

First Month Total Expense

Total Cost over $4$ years $($with payment$)$

Vary the Interest Rate from $5\mathrm{.}00\%$ to $8\mathrm{.}00\%$ by $0\mathrm{.}25\%$

Vary the Cost from $$4,000$ to $$14,000$ by $$500$

True or False: The first month total expenses $($including car payment$)$ for a $5\mathrm{.}50\%$ loan on a $$9,500$ car is less than a $7\mathrm{.}50\%$ loan on a $$9,000$ car?

Group of answer choices

True

False