Question

Harrison has two options for buying a car. Option A is 2.1% APR financing over 60 months and Option B is 4.1% APR over 60 months with $1600 cash back, which he would use as part of the down payment. The price of the car is $26,064 and Harrison has saved $2600 for the down payment. Find the total amount Harrison will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.

Option A:_______

Option B:________

PLEASE SHOW ALL THE STEPS

Answer #1

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