You are in need of a car. after much research you have decided to purchase a new 2023 toyota camry.
the list price for the car at the local dealership is $25,945 including tax, title, and license. when you visit
the dealership the finance manager provides you with three purchasing options.
option a: 5.64% apr, compounded monthly, for 72 months with $0 down at the time of purchase
option b: 0% apr, compounded monthly, for 48 months with $1000 down at the time of purchase
option c: 5.49% apr, compounded monthly, for 60 months with $5000 down at the time of
purchase
for each purchasing option, compute
the required monthly payment,
the total amount you will have paid for your car, and
. for the first loan payment, how much money will go towards interest and how much money will go
towards the outstanding balance?