Dana is going to buy a new Nissan Earth for $21700. After a 10% down-payment the

Question

Dana is going to buy a new Nissan Earth for $21700. After a 10% down-payment the dealership will offer a loan for the remaining value of the car at 10.5% APR for 3 years. Round all answers to the nearest dollar. Use a bank web site to find some of the answers here.

(1) How much will Dana have to have for a down-payment?----------------- $

(2) How much money is Dana going to borrow for the car?------------------ $

(3) How much will Dana have to pay per month for 3 years?------------------- $ per month

(4) How much will Dana actually pay for the car?------------------ $

PLEASE don't forget the Down Payment.

(5) How much of this last answer is the interest payed on this loan? $

Explanation / Answer

1. $ 2170

2. $19530

3. $634.8

4. $32852

5.$3322

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