The loan will be for 5 years. The principal will be $50,000.
The sales tax is 3.75%.
You will finance the sales tax.
1. What is the monthly payment for Bank A?
2. What is the total cost of finance charge for Bank A?
3. What is the monthly payment for Bank B?
4. What is the total cost of finance charge for Bank B?
5. What is the monthly payment for Bank C?
6. What is the total cost of finance charge for Bank C?
7. What is the monthly payment for Bank D?
8. What is the total cost of the finance charge for Bank D?
9. What is the difference in the monthly payment for Bank A and Bank B?
10. What is the difference in the monthly payment for Bank C and Bank D?
11. What is the difference in the monthly payment for Bank A and Bank D?
12. What is the difference in the total cost of financing for Bank A and Bank B?
13. What is the difference in the total cost of financing for Bank C and Bank D?
14. What is the difference in the total cost of financing for Bank A and Bank D?
Include the dollar symbol with the amount.