Joseph and Alex each qualify for a $0 down payment and 3.5% interest on a car loan. Joseph makes a down payment on the car, but Alex does not. How will their choices affect each person's loan?

Select the best answer from the choices provided.

If both pay regular payments, Alex's total cost will be less than Joseph's.

If both pay regular payments, Joseph's total cost will be less than Alex's.

Although Alex's regular payment will be higher, the total cost of his loan will be the same.

Although Joseph's regular payment will be higher, the total cost of his loan wi

Question

Joseph and Alex each qualify for a $0 down payment and 3.5% interest on a car loan. Joseph makes a down payment on the car, but Alex does not. How will their choices affect each person's loan?


Select the best answer from the choices provided.

    If both pay regular payments, Alex's total cost will be less than Joseph's.

    If both pay regular payments, Joseph's total cost will be less than Alex's.

    Although Alex's regular payment will be higher, the total cost of his loan will be the same.

    Although Joseph's regular payment will be higher, the total cost of his loan wi