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How much loan does Molly need

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Reference no: EM133015520

Question - Molly cannot afford the monthly payment using the 0% financing. She opens up Bankrate's Loan Calculator to see how much she'd pay with the other financing option.

1. Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off her total. How much loan does Molly need?

2. Using the Loan Calculator and the 1.9% APR offer, how much will Molly's monthly payment be?

3. How much total interest will Molly pay using this plan?

4. When Molly adds all of her payments, how much will the car cost her using this plan?

Reference no: EM133015520

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