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Janet wants to buy her first car She knows the make and model she wants...

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Basic Math

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Janet wants to buy her first car She knows the make and model she wants but has not decided whether it will be new or used The new car has an MSRP of 24 572 Janet negotiates a discount of 650 and needs to pay the following additional costs 685 freight charge 100 tire air tax 75 gas tax 85 administration fee 74 licence plate fee 20 gas fee 54 finance fee Janet has also found a used car of the same make and model that is 2 years old and has been driven 38 547 kilometers The price of the used vehicle is 14 950 Additional costs include 85 administration fee 74 licence plate fee 20 gas fee 54 finance fee The interest rate on the loan for the new car is 4 9 compounded monthly The interest rate on the loan for the used car is 9 9 compounded monthly In each case the car will be financed for 36 months MSRP or List Price Discount Purchase Price Freight Tire Air Tax Gas Tax Administration Fee Taxable Subtotal Trade in Allowance Deal Review Used car Gas Fee Lien Payout Delivery Price MFG Rebate Down Payment Finance Fee Amount Financed Interest Rate Loan Term

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