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| Fast
Eddie's Auto Sales |
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| Dream Car |
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| Name of Car: |
Ford Ranger |
Porsche |
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| Sale Price: |
$18,500 |
$47,500 |
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| Downpayment: |
$5,000 |
$12,000 |
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| Loan Amount: |
$13,500 |
$35,500 |
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| Interest Rate: |
8.25% |
9.00% |
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| Length of Loan: |
4 |
5 |
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| Number of Payments (Year): |
12 |
12 |
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| Amount Paid per Payment: |
$331.16
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$736.92
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| Total Amount Paid: |
$20,896 |
$56,215 |
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| Total Interest Paid: |
$2,396 |
$8,715 |
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| I got the interest
rates from http://www.eloans.com |
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| I found the price of
the Ranger at http://www.autotrader.com |
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| I got the price of
the Porsche from Jim Purrazzo's Porsche. (630 123 555) |
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