Answered

Loan Term   Interest Rate    Monthly Payment
24 months      2.5%                 $342.08

36 months      3%                    $232.65

48 months      4%                    $180.63

60 months      5%                    $150.97


Markel is buying a new car but needs to keep his payments under $250.00 per month. He would also like to pay it off as quickly as possible so he can start saving for a vacation. Which option will meet both his budget and his vacation plans?


24 months

36 months

48 months

60 months

Verified Answer :

metchelle

The answer to the question above is 36 months. If Markel will buy an new car and needs to keep his payments under $250.00 per month and knowing that he would like to pay it off as quickly as possible to start saving up for his vacation then the best answer ill be 36 months with the $239.63 monthly he'll be able to pay his new car.

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