Question

Using the chart below, determine which option would be the cheapest overall? Option Number of Months Down Payment Interest Rate Monthly Payment Option A 48 months $0 2.5% $175.31 Option 60 months $500 3.0% $134.77 Option C 60 months SO 4.0% $147.33 Option D 36 months $1,000 0.9% $197.15 Option D O Option B Option C O Option A​

Answer 1

Answer:

Answer:

Option 1, by $851.70

Step-by-step explanation:

Option 1 total:

$8000 + $765.44*5*12 = $53926.40

Option 2 total:

$8000 + $626.25*4*12 + 0.38*$43995 = $54778.10

The difference:

$54778.1 - $53926.40 = $851.70

As we see the option 1 is cheaper by $851.70

Correct answer choice is the last one

Step-by-step explanation: