1. The truck you have in mind is priced at $29,200. You myst pay tax and license fees of $1,900. Your credit union will make you a loan at 7.9% for 6 years. You have $3,000 to use toward the purchase. How much will you need to borrow?

1b

• You get the loan. Your monthly payment is $491.31. What is the finance charge?

1c

• What is the total cost of the truck, including finance charge?

Answer rating: 100% (QA)

1a Amount to Borrow This can be determined by using this formula Truck price Tax and license fees ... View the full answer