Mathematics

3 May, 15:55

You (or your parents) purchase a new car for $19,725.00 plus 4.75% sales tax. The down payment is $2,175.00 and you (or your parents) have an average credit rating. Use the table below to determine how much interest is accrued after 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

$90.12

$74.18

$121.09

$195.16

+4

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