Sarah negotiated a price of $25,230.00 for a new Toyota Camry Hybrid Sedan. She is prepared...

 

 

Transcribed Image Text:

Sarah negotiated a price of $25,230.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 13%. Her credit union offered her a 7-year amortized loan for the remaining amount at a rate of 1.95%. How much money will be paid in interest? $ What will the monthly payment be? 69 How much will the car cost, in total? $ If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? Sarah negotiated a price of $25,230.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 13%. Her credit union offered her a 7-year amortized loan for the remaining amount at a rate of 1.95%. How much money will be paid in interest? $ What will the monthly payment be? 69 How much will the car cost, in total? $ If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? Sarah negotiated a price of $25,230.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 13%. Her credit union offered her a 7-year amortized loan for the remaining amount at a rate of 1.95%. How much money will be paid in interest? $ What will the monthly payment be? 69 How much will the car cost, in total? $ If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? Sarah negotiated a price of $25,230.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 13%. Her credit union offered her a 7-year amortized loan for the remaining amount at a rate of 1.95%. How much money will be paid in interest? $ What will the monthly payment be? 69 How much will the car cost, in total? $ If she got a simple interest loan at the same interest rate and time, how much would she pay in interest?

Answer rating: 100% (QA)

1 To calculate the amount of money that will be paid in interest on the amortized loan we first need ... View the full answer