Using the following information below, answer the questions Using the Loan Calculator and the 1.9% APR offer, how much will Molly's monthly payment be?Group of answer choicesA. $377B. $277C. $200D. $177How much total interest will Molly pay using this plan?Group of answer choicesA. $1,500B. $2300C. $1,498D. $1,598When Molly adds all her payments, how much will the car cost her using this plan?Group of answer choicesA. $24,790B. $21,790C. $25,190D. $25,788Molly still has a $2500 down payment. How much loan does Molly need?Group of answer choicesA. $21,890B. $24,790C. $25,190D. $22,290How much will Molly's monthly payment be using the Bankrate calculator?Group of answer choicesA. $429B. $400C. $529D. $250How much total interest will Molly pay using this plan?Group of answer choicesA. $4,000B. $3,000C. $2,870D. $3,870When Molly adds all her payments, how much will the car cost her?Group of answer choicesA. $25,760B. $28,260C. $24,390D. $21,890What valuable lessons did Molly learn about auto financing?Group of answer choicesA. High interest rate = larger total interest and higher overall costB. A short loan term will decrease the total amount you pay, but will increase your monthly payment, which you might not be able to afford with your budgetC. Companies advertise only the lowest rates available to lure you in, even though your own rates might be much higherD. All of the aboveMolly desperately wants a Volkswagen Jetta, and this new monthly payment is pretty high again. What suggestion would you not give her for making her dream become reality?Group of answer choicesA. She should still make her dream become reality and purchase the car.B. Save up a larger down payment so a shorter loan term becomes more possible in her budgetC. Work on building up her credit history, and wait until she can qualify for better terms, before buying the carD. Try financing through her bank or credit union; maybe they'll offer better rates than the Volkswagen dealership

Auto Loans Assignment In this assignment, you are going to help Molly make a decision on her auto loan. You will explore different auto loans in more detail to understand its various components. Then, you will answer questions using the information below and answer the questions. The assignment has hyperlinks. Make sure to follow the questions on this handout first. Then, enter your answers in the Auto Loans Assignment (not on this handout). Molly is celebrating her amazing new career and wants to upgrade her junky old car for a shiny new Volkswagen Jetta. She heads to Volkswagen's website and sees the following financing deals: 2022 Volkswagen Jetta MSRP range: $20, 195 - $27,795 Select year 2022 - New Select a trim SE (Most Popular) - $24,790 MSRP V Finance for Finance for 0% APR 1.9% APR Note: For this activity, For 36 months For 84 months assume Molly's going to pay Plus up to /$1,500 Plus up to $500 the exact MSRP of $24, 790. Cash Allowance Cash Allowance This is most likely NOT true, but we'll use it for simplicity