Annual interest rate due to your age and credit score

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Reference no: EM131356084

You are interested in buying a brand new Lexus IS-F, which costs $70,000 with full of cool options. A bank will lend you 100% of the purchase price for 4 years. As usual with an auto loan, you have to make equal monthly payments for 4 years (=48 months). The bank offers you a loan at 7.0% annual interest rate due to your age and credit score. How much is your monthly payment?

$1,809.19

$1,843.37

$1,899.91

$448.96

$3,215.24

$1,676.24

$1,741.95

$2,015.66

Reference no: EM131356084

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