Issue # 7 Purchasing another auto.


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Category: Business / Finance
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Auto PROBLEM. Bill acquired another auto that was offering at a cost of $19,200. He paid $4,800 as a down ... The real value Bill would have paid for the auto is $21,036 ...
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Slide 1

Issue # 7 Buying another auto By (Names deleted)

Slide 2

OVERVIEW Car Problem Set Up Total Price of Car In Class Problem Set up Solution

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CAR PROBLEM Bill acquired another auto that was offering at a cost of $19,200. He paid $4,800 as an up front installment and got a 36-month auto credit to fund the rest of the offering cost. In the event that his regularly scheduled installments were $451, what is the aggregate sum, including the initial installment, that Bill will pay for the auto?

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SET UP Monthly installment cost : $451 * 36 = $16,236 Plus the up front installment of $4,800

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TOTAL PRICE OF CAR!!! The real value Bill would have paid for the auto is $21,036

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In Class Problem Tyler acquired another four wheeler that was offering at a cost of $5,000. He paid $1,000 as an up front installment and got a 24-month credit to back the rest of the offering cost. On the off chance that his regularly scheduled installments were $180, what is the aggregate sum, including the up front installment, that Tyler will pay for the Four wheeler?

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Set Up Monthly installment costs: 180*24 = $4,320 Plus the up front installment of $1,000

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Solution The real value Tyler would have paid for the four wheeler is $5,320.

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Any Questions???

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