Markel is buying a new car but needs to keep his payments under $250.00 per month. He would also like to pay it off as quickly as possible so he can start saving for a vacation. Which option will meet both his budget and his vacation plans?

Question

Lilian West

Business

1 October, 08:12

Markel is buying a new car but needs to keep his payments under $250.00 per month. He would also like to pay it off as quickly as possible so he can start saving for a vacation. Which option will meet both his budget and his vacation plans?

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Answers (1)

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Livia · Answer 1

Answer: apportion the remittal between both options.

Explanation:If he needs to clear the purchase of the car he needs to increase the installmental payment for the car but this would go against the $250 limit. Another option is; Since the threshold for the installmental payment for his car is $250 He could remit $200 periodically for his installments of the car and remit the balance $50 periodically for his vacation.