Answer:
329.54875
Step-by-step explanation:
I've written down the working out and the answer on the attached image
The calculation of the interest based on the price given shows that vehicle B has a lower interest.
<h3>How to calculate the price?</h3>
From the information given, vehicle A has a final sale price of $25,000 at 5% interest and financing up to 60 months. The interest will be:
= (25000 × 5 × 5)/100
= $6250
Vehicle B has a final sale price of $29,000 at 4% interest and financing up to 60 months. The interest will be:
= (29000 × 4 × 5)/100
= $5800
Therefore, the calculation of the interest based on the price given shows that vehicle B has a lower interest.
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Step-by-step explanation:
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