Bernie has decided to purchase a new car with a list price of $18,575. Sales tax in Bernie’s state is 7. 40%, and he will be res
ponsible for a $795 vehicle registration fee and a $110 documentation fee. Bernie plans to trade in his existing car, a 1999 Buick Riviera in good condition, and finance the rest of the cost for five years at an interest rate of 12. 77%, compounded monthly. Assuming that the dealer gives Bernie the listed trade-in price for his car, what will his monthly payment be? Round all dollar values to the nearest cent. Buick Cars in Good Condition Model/Year 1998 1999 2000 2001 2002 Century $929 $1,086 $1,150 $1,488 $1,595 LeSabre $2,075 $2,282 $2,690 $2,935 $3,374 Regal $1,676 $1,794 $2,030 $2,214 $2,566 Riviera $1,291 $1,455 $1,520 $1,814 $1,959 a. $472. 05 b. $439. 12 c. $438. 20 d. $518. 23.
