Comparing Financing Packages (4.2) by Conner Nolan

Prediction

nolan_conner — 2015-09-01 20:07:11 UTC

Option 3 sounds like a well-rounded thing to consider. Getting a decent rebate and some mild interest on the payment seems as though it will work out the best.

Option 1

nolan_conner — 2015-09-01 20:10:10 UTC

$463.89 - monthly payment

$24,766.72 - total cost

Option 2

nolan_conner — 2015-09-01 20:10:32 UTC

$441.87 - monthly payment

$23,709.76 - total cost

Option 3

nolan_conner — 2015-09-01 20:14:01 UTC

$451.58 - monthly payment

$24,175.84 - total cost

The Best Option? #2

nolan_conner — 2015-09-01 20:15:10 UTC

In the end, Option 2 was the best choice. It not only had the lowest monthly payment of the three, but it also had the lowest total cost. It was not a necessarily surprising outcome due to the huge rebate given on the payment.

Nice work! All computations are correct.

clorch — 2015-09-02 16:23:58 UTC

Interesting background--doesn't have anything to do with car loans, but it's interesting!

20/20