When would leasing a vehicle be a better option than buying? Describe in at least five sentences how you will prepare to purchase your next vehicle in order to (1) get the appropriate vehicle, (2) to get the best deal, and (3) to avoid getting ripped off. For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Payment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5) What will be your monthly payment and the total amount paid over the life of the loan if you finance for 60 months? Provide the car payment and the TVM inputs you used to calculate the payment. Payment Total of all payments PV FV RATE/INTEREST PERIODS/N What does this tell you about total cost when financing for longer periods?

When would leasing a vehicle be a better option than buying? Describe in at least five sentences how you will prepare to purchase your next vehicle in order to (1) get the appropriate vehicle, (2) to...

When would leasing a vehicle be a better option than buying?

Describe in at least five sentences how you will prepare to purchase your next vehicle in order to (1) get the appropriate vehicle, (2) to get the best deal, and (3) to avoid getting ripped off.

For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%.

What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment.

(See next page for Questions 4 and 5)

What will be your monthly payment and the total amount paid over the life of the loan if you finance for 60 months? Provide the car payment and the TVM inputs you used to calculate the payment.

Jun 05, 2022