Easton has two options for buying a car. Option A is 1.5% APR financing over 36 months and Option B is 5.5% APR over 36 months with $⁢1800cash back, which he would use as part of the down payment. The price of the car is $⁢35,042 and Easton has saved $⁢3500 for the down payment. Find the total amount Easton will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary. Option A: $ Option B: $

Easton has two options for buying a car. Option A is 1.5% APR financing over 36 months and Option B is 5.5% APR over 36 months with $⁢1800cash back, which he would use as part of the down payment. The price of the car is $⁢35,042 and Easton has saved $⁢3500 for the down payment. Find the total amount Easton will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary. Option A: $ Option B: $

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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