Question: Harrison has two options for buying a car. Option A is 2 . 1 % APR financing over 3 6 months and Option B is

Harrison has two options for buying a car. Option A is 2.1%
APR financing over 36
months and Option B is 5.1%
APR over 36
months with $1600
cash back, which he would use as part of the down payment. The price of the car is $29,089
and Harrison has saved $2900
for the down payment. Find the total amount Harrison will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!