Tom needs a car to commute to work and has found a suitable Honda Civic from a dealer for $8000.He has $3000 saved for it and can afford a monthly payment up to $250.Which of the following is the best (lowest total cost) financing option for him?
A) Make a $2500 deposit and take a two year loan with monthly payments of $241.
B) Make a $3000 deposit and take a two year loan with monthly payments of $221.
C) Make a $2000 deposit and take a three year loan with monthly payments of $185.
D) Make a $1000 deposit and take a three year loan with monthly payments of $210.
Correct Answer:
Verified
Q83: Discuss six of the choices to be
Q84: Illustrate the cost implications of using a
Q85: Your house is worth $278 000 and
Q86: Discuss at least four ways in which
Q87: Devon has owned a home for eight
Q89: Sue obtains a one year loan of
Q90: Over the past 10 years you have
Q91: What would be the total cost of
Q92: Incorporating the use of credit into your
Q93: If you apply for a payday loan
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents