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Which should she choose if she bases her decision

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Sharon is considering the purchase of a car. After making the down payment, she will finance $15,500. Sharon is offered the maturities. On a four-year loan. Sharon will pay $371.17 per month. On a five-year loan Sharon´s monthly payments will be $306.99. On a six-year loan, they will be $264.26- Sharon rejects the four-year loan as it is not within her budget. How much interest will Sharon pay over the life of the loan on the five-year loan? On the six-year loan? Which should she choose if she bases her decision solely on total interest paid?

Reference no: EM132753574

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