Wrangle that Wrangler

Hour 5 Algebra 2

Why I chose my Jeep

I love jeeps and I found one that was $611.85 under my five year loan.

Sarlary: $40,000

Yearly/Monthly budget:

Housing: $14,000 / $1166.66

Taxes: $10,000 / $833.33

Transportation:

  • payment: $4000 / $333.33
  • other: $2000 / $166.66

Food: $6000 / $500

Savings: $2000 / $166.66

Medical: $12000 / $100

Miscellaneous: $800 / $66.66

Car Payment:

Yearly: $4000

Monthly: $333.33

What can I afford with a 3, 4, or 5 year loan?

3 year loan ============> PV= $11,332.78

4 year loan ============> PV= $14,836.19

5 year loan ============> PV= $18,210.85

Monthy Payments for a $17,599 Jeep Wrangler

3 year loan ========> R= $517.63 (to much)

4 year loan ========> R= $395.40 (to much)

5 year loan ========> R= $322.13 (perfect)

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