Rihanna is buying a car for $18,300. She has a $1500 trade in allowance and will make a $2000 down payment. She will finance the rest with a 4 year auto loan at 2.8% APR.
(a.) How much money will she borrow in an auto loan? Show your work.
(b.) What will her monthly auto payment be? Show your work.
(c.) What is the total amount of interest she will pay? Show your work.
(d.) What is her total payment for the car? Show your work.
(e.) Rhianna is 19 years old. She buys 100/300/50 liability insurance, and collision and comprehensive insurance, each with $500 deductibles. What is her total annual premium? Show your work.