MAT$130$ Unit $3$ Review B

$13.$ A $$19,500$ truck loan is to be purchased using a $48-$month loan at $9\mathrm{.}5\%$ APR with a down payment of $$3000.$ a$.$ Calculate the monthly payment for the loan.

b$.$ How much would you save if you paid the loan in full on the ${30}^{th}$ month.

c$.$ What if we chose to not pay it off in the ${30}^{th}$ month and finished out the loan for $48$ months. What is the total cost of the truck?

d$.$ Is it worth paying off the loan early? Explain your reasoning.

$98$