Algebra 2 Hot Wheels Project

Alexander Miller

Salary

$120,000

Car

2001 NISSAN SKYLINE R34 GTR ($70,706)

Website Found

PistonHeads.com

SUPERB CONDITION HUGE SPEC NISSAN SKYLINE R34 GTR M-SPEC (850PS) WITH GENUINE LOW MILEAGE. (n.d.). Retrieved April 27, 2015, from http://www.pistonheads.com/classifieds/used-cars/nissan/skyline-r34/superb-condition-huge-spec-nissan-skyline-r34-gtr-m-spec-850ps-with-genuine-low-mileage/3833440

What Can I Afford?

3 Years: $50,998.03

4 Years: $66,763.53

5 Years: $81,949.66

Minimum Monthly Payment

3 Years: $2079.71

4 Years: $1588.57

5 Years: $1294.20

Amount Spent Over The Course Of The Loan

I chose a 5 year plan therefore, I will pay $77,652 over the course of the loan.

Extra Credit

0% interest cost: $24,516

$4,000 rebate with 3.75% interest cost: $22,924.3317


The $4,000 rebate with 3.75% interest is a better deal than the 0% interest for a 5 year loan because you save $1591.668296.