Question: how much will my loan payment be ? 2. Sue Ann wants to buy a Dodge Viper that lists for $83,450. She can afford a
2. Sue Ann wants to buy a Dodge Viper that lists for $83,450. She can afford a 5 percent down payment. She hopes to finance the car over 84 months. The sales person has told her the interest rate is 11 percent. a. What will Sue Ann's payments be? Click here to enter text. b. How much total interest will she pay? Click here to enter text. c. What is the total interest as a percent of the price of the car? Click here to enter text. d. Using our rule of thumb, how much would Sue Ann have to Click here to enter text. bring home per month to be able to afford this car? e. Sue Ann decides to look elsewhere for financing and finds a Click here to enter text. rate of 8.75 percent at her credit union. How much money will she save in interest
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
