Question

I URGENTLY need help fast! I have a few questions that I can't handle, and I'm currently Failing Consumer MATH!

Answer 1

Here are the questions below. Please help me with them! I'm included the important part of the graph, and not the whole thing because its not important.

1) a) You purchase a new car for $16,725.00 plus 6.15% sales tax. The down payment is $1,400.00 and you have an average credit rating. How much interest is accrued after the first month?

Average Secured-5.85 Unsecured- 6.20

1) b) You purchase a new car for $16,725.00 plus 6.15% sales tax. The down payment is $1,400.00 and you have an average credit rating. If you improved your credit score to good and paid $2,100 on your purchase, how much interest could you save in the first month

2) You purchase a used car for $17,645.00 plus 4.75% sales tax. The down payment is 10% of the total cost and you have an excellent credit rating. What is your principal balance at the start of the loan?

Excel. secured- 4.80 unsecured- 5.25

3) You are debating about whether to buy a new car for $19,242.00 or a used car for $12,425.00. Sales tax is 6.5%. You (or your parents) plan to make a down payment of $1,200.00 and your credit rating is fair. What is the difference in interest accrued by the end of the first month? *

Fair secured-7.00 unsecured-7.65

4) Say that you are purchasing a used car for $22,350. The sales tax is 7.5%, the down payment is $1,200.00, and you have an average credit rating. If your first payment is $475.25, how much of the payment goes toward the principal?

Ave. Secured 5.85 Unsecured 6.75

You don't have to just give me the answers. I would actually prefer it if you show me how to do it so that I could complete more work like this ( I have a lot of work like this!)

Answer 2

goodluck. (: