Car Payment Project

By Justin and Obed

Amalysis Questions

1. Compare the 3 mortgage structures. In terms of its monthly payment, which mortgage structure would be the least expensive? Structure #?


2. Compare the 3 mortgage structures. In terms of the amount paid in interest, which mortgage structure would be the least expensive? Structure #?


3. Compare the 3 mortgage structures. In terms of amount paid in total over the life of the loan, which mortgage structure would be the least expensive? Structure #?


4. If you were to determine which mortgage structure was best suited for YOU personally, which would you choose and why? I would choose structure #1 because I would want to get all the payments over with as soon as possible because in 4 years I will be in college, and It would be harder to pay for it when I am in college and after college. I will probably have student loans to pay after college, and also, I would be out on my own. I will have other stuff to pay for like taxes, bills, and a place to stay. I will be paying for my car with part of the money I will be making when I get a job.

Citations

"New 2016 Honda Civic LX Sedan In Shelby, NC Near 28152 | 19XFC2F5XGE001139 | Auto.Com". Auto.com. N.p., 2016. Web. 10 May 2016.