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My Car

My Car. Assignment Ms. Hinds. Mitsubishi Eclipse. http://www.cargurus.com/Cars/l-Used-2010-Mitsubishi-Eclipse-c21795#listing=80006216. 2011 Mitsubishi Eclipse GS Sport - $12,490. Black leather interior Sunroof anti-lock disc brakes front side air bags, and side curtain air bags.

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My Car

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  1. My Car Assignment Ms. Hinds

  2. Mitsubishi Eclipse • http://www.cargurus.com/Cars/l-Used-2010-Mitsubishi-Eclipse-c21795#listing=80006216

  3. 2011 Mitsubishi Eclipse GS Sport - $12,490 • Black leather interior • Sunroof • anti-lock disc brakes • front side air bags, and side curtain air bags

  4. Buying the Car • Down payment • $4000 • Money to borrow • $12,490-4000 = $8490

  5. Which Interest to pick

  6. Simple Interest • $ 8490 * 0.08 * 5 = $3396.00 • $8490 * 0.0975 * 3 = $2483.33 (best option/least interest) • $8490 * 0.1025 * 4.5 = $3916.01 • $8490 * 0.18 * 2.5 = $3820.50 • $8490 * 0.2225 * 4 = $7556.10

  7. Ammortization • http://www.canadamortgage.com/calculators/amortschedule.cgi • loan, amortization is the process by which your loan principal decreases over the life of your loan

  8. Why might you not choose of the of the following • The lowest interest rate • The smallest monthly payment • The shortest time • The loan with the lowest cost • Discuss what you think of the above

  9. Conclusion • What about what you learned.

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