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Amount of interest you would pay over the life of the? loan

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Reference no: EM131190177

You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined? below: BMW M5 ?RWD, 500hp,? 0-100 in 4.7s MSRP? = ?$110,000 Term? = 24 months APR? = 9% Down Payment? = $0 Monthly Payments? = ?$5,025.32 The amortized loan payments are a blend of interest and principal. What is the total amount of interest you would pay over the life of the? loan? Assume that taxes are zero.

Reference no: EM131190177

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