You Are Considering the Purchase of a BMW M5

question 89

Multiple Choice

You are considering the purchase of a BMW M5.You will borrow the money from BMW Financial Services.The terms of the deal are outlined below.
BMW M5
RWD,500hp,0-100 in 4.7s
PRICE = $80,000
Term = 36 months
I = 4.0%
Down Payment = $0
Monthly Payments (end-of-month) = $2,361.92
How much interest does the borrower pay over the term of the loan? In other words,how much of the blended loan payments is interest?

• A) $5,029.08
• B) $3,401.17
• C) $3,200.00
• D) $5,561.92
• E) $5,763.09

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