Lindsay needs to purchase a car. The car she is planning on purchasing costs $7000 and...

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Lindsay needs to purchase a car. The car she is planning on purchasing costs $7000 and she has $500 that she will be using as a down payment. She is offered credit terms of 3% APR for a term of 2 years. Please calculate the following: 1: To purchase the car, what is the amount that Lindsay will need to finance? (1 point) $₁ 2. In one year, how much interest will Lindsay pay on the loan? 1 point) 3. In two years, in order for Lindsay to finally OWN the car, what will the actual cost of the car be in dollars? (3 points) (down payment+amount financed+2 years interest-actual cost of car) A/ 2 A Lindsay needs to purchase a car. The car she is planning on purchasing costs $7000 and she has $500 that she will be using as a down payment. She is offered credit terms of 3% APR for a term of 2 years. Please calculate the following: 1: To purchase the car, what is the amount that Lindsay will need to finance? (1 point) $₁ 2. In one year, how much interest will Lindsay pay on the loan? 1 point) 3. In two years, in order for Lindsay to finally OWN the car, what will the actual cost of the car be in dollars? (3 points) (down payment+amount financed+2 years interest-actual cost of car) A/ 2 A

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1 Amount to be financed Car cost 7000 Down payment 500 Amount fina... View the full answer