You begin to have mechanical Issues with your car and It's time to get a new one.You decide to upgrade the Honda and buy an Audi. The total cost of the Audi after taxes and youdown payment is $25,000. You finance the purchase for 6 years at 3% APR. Since this new car isfaster and more expensive than your previous one, your insurance goes up to $125 per month.Calculate your new car payment and add it to your budget along with your new insurancepayment. You may need to adjust some other areas of your budget to afford the new expense.

Answer rating: 100% (QA)

To calculate the new car payment we can use the formula for calculating monthly loan payments Car Pa... View the full answer