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Class Activity 3 - Financing A Car Class Activity...

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Accounting

Class Activity 3 - Financing A Car
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Class Activity 3 - Financing a Car In this activity, you will use Technology to create and analyze the amortization schedule for a loan chosen to finance your future Problem 1(a): Provide the following details for the car you would prefer to own. Information should be based on new/latest model. The data from Class Activity I can be used. Make Model MSRP Problem 1 (b): Determine the amount you would finance for each car after taking into consideration dealership incentive, down payment, and trade-in value. Indicate zero ($0.00) if does not apply MSRP Dealership Down payment Trade-in Value Amount to be Incentive Financed Problem 2: Car loan rates vary based on one's credit score, term length of the loan and other factors relevant to a lender's risk in offering the loan. The annual percentage rate (APR) typically ranges from 3% to 10%. Consider the following term lengths and APR's: 36 Term length of the loan (in months) APR (%) 3.71 3.81 3.93

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