You are considering buying a car for $13,000.00. You put $2,600.00 down and are thinking about...

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You are considering buying a car for $13,000.00. You put $2,600.00 down and are thinking about taking out a 60-month loan at 9.875% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be? 10400 Correct. Good Job! At the end of 5 years, how much will you have to pay back? $5135 Not equivalent. Preview $ 10,400 Preview $ 5135 If you made monthly payments, how much would they be? 258.92 Correct. Good Job! How much will the car cost, in total? 18135 Correct. Good Job! Preview $ 258.92 Preview $ 18,135 If you decided to take a 2 year loan at the same rate, what would your monthly payments be? Assume equal monthly payments. $ 627.25 ! Nope. Preview $ 627.25 How much money would you save, if any, with the 2-year loan? Round your final answer to the nearest whole dollar. If there are no savings, enter 'NA'. $ 481 Not quite. Nope. Try again. Score: 50% Preview $ 481 You are considering buying a car for $13,000.00. You put $2,600.00 down and are thinking about taking out a 60-month loan at 9.875% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be? 10400 Correct. Good Job! At the end of 5 years, how much will you have to pay back? $5135 Not equivalent. Preview $ 10,400 Preview $ 5135 If you made monthly payments, how much would they be? 258.92 Correct. Good Job! How much will the car cost, in total? 18135 Correct. Good Job! Preview $ 258.92 Preview $ 18,135 If you decided to take a 2 year loan at the same rate, what would your monthly payments be? Assume equal monthly payments. $ 627.25 ! Nope. Preview $ 627.25 How much money would you save, if any, with the 2-year loan? Round your final answer to the nearest whole dollar. If there are no savings, enter 'NA'. $ 481 Not quite. Nope. Try again. Score: 50% Preview $ 481