Ricky

Mathematics

2 December, 22:59

The Clean and Green car dealership is running a special on 2008 hybrids. The dealership requires the customer to make a down payment of 10% of the cost of the vehicle and will finance the balance with a 6.78% annual interest loan for 60 months (5 years). You are interested in an EviroClean hybrid that costs $28,250. Not including the down payment, how much will you pay over the lifetime of the loan?

a.

$30,048.60

c.

$36,726.00

b.

$33,387.00

d.

$39,250.30