Complete the portion of the auto loan organizer for either of the used cars you investigated then use it
Car (Used)
2000
Honda Accord
15,350
6)
Great: 5.5%
Good: 10.5%
Fair: 17.5%
Monthly Payment
250.39
288.26
345.77
Total Interest Paid
2.706.63
5,404.52
9.545.79
111.767.18
Poor: 21%
376.63
What was the percent change in the total interest paid on the loan as it increased from an
APR of 5.5% to 17.5%
7) At 17.5% APR, the total interest paid was what percent of the VALUE OF THE CAR?
8)
What sorts of financial decisions might result in you having to pay 17.5% APR on a car loan
(list at least 3)?