2012-11-28

Math Brain Teaser

If I bought a car with a final sale price of $21 824 with a term of 84 months at 8.99% with monthly payments of $351 with $2000 down how much will I pay in total if I keep for the full term?

Now. If I've paid for 49 months how much have I put down so far and how much do I have left to pay?

Ok. Let's assume I want to sell it and the market value is about $13 000. If the amount owed is less than the market value, am I making money on my car? Hint: Look what I've paid so far to help determine the answer.

Have fun.

Posted by T.C.

1 comment:

  1. Nick11/29/2012

    My head is spinning already, and no, I'm not having fun. I hate math!

    ReplyDelete

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