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Question: for this question you must research two different new cars...

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For this question, you must research two different new cars and their prices.

a)          State the make and model of the two cars that you have chosen and their prices.

                  (The following website can be used https://www.drive.com.au )

 

a)            Choose one of the vehicles that you researched in part (a). Assume you have a $5000 deposit and in order to buy the vehicle you have chosen, you will need to borrow the balance.

After paying the deposit, what is the balance (to the nearest $1000) needed to buy the car. 

 

c)       The loan table below gives monthly repayments per $1000 borrowed

            For the car that you have chosen, use the table to calculate the:

i)          monthly repayment for a 12% p.a. loan over 5 years

ii)          total to be repaid over the period of the loan

iii)        total interest charged over the period of the loan

 

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