Erica Villanueva

Mathematics

9 October, 04:09

You (or your parents) are debating about whether to buy a new car for $19,072.00 or a used car for $15,635.00. Sales tax is 4.5%. You (or your parents) plan to make a down payment of $1,200.00 and your credit rating is fair. Use the table below to determine the difference in interest accrued by the end of the first month.

Secured Unsecured

Credit APR (%) APR (%)

Excellent 4.80 5.25

Good 5.15 5.65

Average 5.85 6.20

Fair 7.00 7.65

Poor 8.20 9.15

$18.02

$16.55

$20.95

$21.63

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