- To buy the new car you want you would need to borrow $35,000. You can...

Question

Question

- To buy the new car you want you would need to borrow $35,000. You can either borrow: - 2 years at 2.5%/year, - 3 years at 4

Answer 1

Answer #1

Amount borrowed $ 35,000 Option 1) - 2 years @ 2.5%/year PV of annuity factor (2.5%, 2) Annual Payment ($35000/1.92742) 1.927

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Answer 2

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