Jessica purchases a 2013 Toyota RAV-4 for $23,300.00. The Toyota Finance Company offers her a 6-year...

Transcribed Image Text:

Jessica purchases a 2013 Toyota RAV-4 for $23,300.00. The Toyota Finance Company offers her a 6-year loan at 4% simple interest as long as she can make a down payment of at least $2,100.00. Jessica has money saved and wants to have lower monthly payments, so she actually pays $7,000.00 down. What will her monthly payments be? Enter monthly payment $ /month How much (in total) will she spend on her RAV-4? Enter total cost $ If she had only made the minimum down payment of $2,100.00, what would her monthly payments have been? Enter monthly payment $ /month What would her car have cost with the lower down payment? Enter total cost Jessica purchases a 2013 Toyota RAV-4 for $23,300.00. The Toyota Finance Company offers her a 6-year loan at 4% simple interest as long as she can make a down payment of at least $2,100.00. Jessica has money saved and wants to have lower monthly payments, so she actually pays $7,000.00 down. What will her monthly payments be? Enter monthly payment $ /month How much (in total) will she spend on her RAV-4? Enter total cost $ If she had only made the minimum down payment of $2,100.00, what would her monthly payments have been? Enter monthly payment $ /month What would her car have cost with the lower down payment? Enter total cost