Laura is currently paying off her four-year car financing. when she purchased her car, it had a list price of $19,858. laura traded in her previous car, a good-condition 2000 honda insight, for 85% of the trade-in value listed below, financing the rest of the cost at 9.5% interest, compounded monthly. she also had to pay 9.27% sales tax, a $988 vehicle registration fee, and a $77 documentation fee. however, because laura wants to pay off her loan more quickly, she makes a total payment of $550 every month. how much extra is she paying monthly? round all dollar values to the nearest cent.

the answer is $71.72 in edgenutiy b  

total amount $19858.00

85% from car trade in = $16879.3

rest cost = $2978.7

interest 9.5%= $2827.765

sales tax 9.27% = $2761.2549

vehicle registration fee = $988

documentation fee $77.00

total charge = rest cost ($2978.7) + interest ($2827.765) + sales tax ($2761.2549) + vehicle registration fee ($988.00) + documentation fee ($77.00) = $9632.7199

4 year car finance = 48 months payable

monthly charge = total charge ($9632.7119) / 48 months = $200.68

monthly payment: $550.00

extra payment = monthly payment ($550.00) - monthly charge ($200.68) = $349.32

the answers are in the images, i received 100% on this assignment. hope this !