Mike brought a new car and financed $25,000 to make the purchase. He financed the car for 60 months with an APR of 6.5%. Determine each of the following:

A. Mike's monthly payment

B. Total cost if Mike's car

C. Total interest Mike pays over the life of the loan

Question

Kailee Watkins

1 November, 16:30

+4

Answers (2)

Know the Answer?

Javion · Answer 1

C. Total interest Mike pays over the life of the loan

Arnav · Answer 2

Mike and I were friends. how did he buy a car without asking me and that worth 25000. while he used to 10 per day. it's unfair

Mike brought a new car and financed $25,000 to make the purchase. He financed the car for 60 months with an APR of 6.5%. Determine each of the following:A. Mike's monthly paymentB. Total cost if Mike's carC. Total interest Mike pays over the life of the loan