Hot Wheels Proj.
Hour 2. Sherwin B. O'Connell
I was given a salary of $65000. After calculating all the expenses with taxes, housing, food, savings, transportation, medical, and miscellaneous, I could do payments of $6392 yearly and $532.59 monthly for a Chevy Camaro. A base model of a Chevy Camaro is worth $23705 . Since I chose a 4 year loan, I will be able to pay it off. (532.59) (12*4) = $25564.32 over the course of the loan
What it will actually cost over the course of the loan? I chose a 4 year loan so I will have to pay (532.59)(12*4) =$25,564.32
Car cost - $24,516.00. The better deal is B with the $4000 rebate. An interest rate pf 3.75% with a $4000 rebate is better because it will save you a total of $1592