asked 84.3k views
1 vote
Lindsay needs to purchase a car. The car she is planning on purchasing costs $15,000 and she has $2,000 that she will be using as a down payment. She is offered credit terms of 3% APR for a term of 2 years. Please calculate the following: A. To purchase the car, what is the dollar amount that Lindsay will need to finance? B. In one year, what is the dollar amount of interest that Lindsay will pay on the loan? C. In two years, in order for Lindsay to finally OWN the car, what will the actual cost of the car be in dollars? (down payment+amount financed+2 years interest=actual cost of car)

asked
User Fhiegel
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7.9k points

1 Answer

6 votes

Answer: ahh

Step-by-step explanation:

answered
User Jskinner
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8.2k points
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