Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 1 decade ago

Math! Petra is going to buy a new car for $27,500. She is going to finance the amount over 4 yrs. The...?

car's dealership has offered her an interest rate of 11.2% compounded monthly.

a) What would her monthly payments be?

b) If she decided to buy the car at a year-end inventory clearance sale she would end up paying only 4.9% interest. How much less would she pay per month?

c) How much would Petra save in total in total if she bought the car at the end-of-year clearance sale?

thx! plz use formulas

4 Answers

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  • 1 decade ago
    Favorite Answer

    Do your own homework. You need a spread sheet formulated for loans to figure those monthly payments. But, I can tell you right now that if she finances a car at 11.2% she's getting the shaft.

    Source(s): Have never financed a car for that high an interest rate.
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  • 3 years ago

    Leasing grants flexibility in terms of the innovations attainable. in case you p.c. to alter your vehicle each and every few years or in the experience that your way of existence demands a sparkling vehicle each and every few years, then leasing is an appropriate decision. So hire is extra useful whilst in comparison with a private loan.

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  • Anonymous
    1 decade ago

    The math formulas are VERY complex and almost impossible to demonstrate. Instead, use a business calculator or an online calculator such as this one:

    http://www.used-car-advisor.com/carloancalculator....

    .

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  • Anonymous
    1 decade ago

    $607.80

    $600.33

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