Question

Figure out the costs of buying the two cars listed below by filling in the blanks in the table

Answer 1

Make/Model: 
Ford E-Series Wagon Van

MSRP: 
$28,760

Cost of options: 
$5,560

Sales tax: 
$2230.80 (this is based on 6.5% interest)

Total cost: 
$36550.80

10% down payment: 
$3655.08

Amount needed to borrow: 
$32895.72

Monthly payment: 
$665.62

Total interest paid: 
$4,665.51

Total payments:
60 payments of total $39,937.03