7
QuizMultiple Choice

Amortization

Question 7 • FT GMS AMDM B IC – 72

You have decided to purchase a car for $15,699. The credit union requires a 10% down payment and will finance the balance with a 6.1% annual interest loan for 36 months. The sales tax in your city is 8.1%, and the license and title charges are $89.45. Determine the amount that the credit union will finance you for. Round your answer to the nearest cent.a.$15,071.48c.$15,360.58b.$16,746.09d.$15,354.06

Answer
A
A
B
B
C
C
D
D
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You have decided to purchase a car for $15,699…