Question: Please help MY NOTES You decided to purchase a car for $18,750. You have 20% of the purchase price to use as a down payment,

Please help MY NOTES You decided to purchase a car for

Please help

MY NOTES You decided to purchase a car for $18,750. You have 20% of the purchase price to use as a down payment, and the purchase will be financed at 10% interest. The accom monthly loan payment in terms of the number of months over which the loan is financed. Monthly payment (dollars) 1500 1200 900 600 300 Months 12 24 36 48 60 728 (a) What is the actual amount being financed? $ (b) Estimate your monthly payment if you finance the purchase over 60 months. $ (c) Estimate the number of months you will have to pay on the loan if you can only afford to pay $1500 a month. months (d) If you decrease the time financed from 60 to 48, by how much would your payment increase? $

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