Business, 21.09.2019 03:30 sconner733

You are interested in arranging financing to purchase a new car from bloomington cars, inc. the car that you want has a sticker price of $42,000, an instant rebate of $3,500, a fair market value of $39,000, and a great sound system. the salesperson, while smoothing over his comb-over, taps his pinky ring on the hood of the car and tells you, "you picked the best car we have. i can also kick in a free bloomington cars coffee mug." since you love the car, you hop up and down and say, "sold! i’ll take it." you sign a loan contract for 60 monthly payments based on a rate of 7.3% per year and drive home with your new car and coffee mug, listening to that great sound system. (your market rate of return for the risks you pose for a car loan is 5.5%.)$802.25$777.78$767.81$707.98n one of the above2) how much value did you destroy in pursuit of that great sound system and your free coffee mug (rounded to two places)? $499.86$1,197.03$3,000.06$2,324.09n one of the above3) what would have been a "fair" monthly payment (rounded to two places)? $744.95$837.61$735.39$767.43none of the above4) based on questions #1 and #3, how much are you overpaying each month (rounded to two places)? $26.82$17.46$8.24$32.87none of the above5) if you come to your senses in 12 months and realize what a bad deal you negotiated and would like to pay off this bad loan, how much do you owe (rounded to two places)? $36,854.88$33,014.89$8,859.51$31,87 8.28none of the above6) how much interest will you pay in the first year of the loan (rounded to two places)? $9,213.72$2,592.00$6,621.72$3,452.2 8none of the above

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