A car dealer offers you two deals on a car that costs $14,000. Please calculate the monthly payment, given these two payment options the car dealer is offering.
Payment Option 1: You can finance the car for 60 months with no interest if you make a $2,000 down payment.
Payment Option 2: You can finance the car for 72 months (6 years) with 2% simple annual interest and no down payment. (Hint: To calculate simple annual interest, use the formula Interest = Principal * Rate * Time. Add the amount of interest to the price of the car.)
Which monthly payment amount is lower? Please explain

See more answers at brainly.com

option 1 i think its 60 dollars monthly if he leaves 2,000 down payment so 12,000/6 =200

divided by 60 not 6

Looking for something else?

Not the answer you are looking for? Search for more explanations.