Question

Serena would like to calculate the total cost of a car loan. She should _____.

multiply the amount of the loan by the APR
use this formula: P x (J / (1 – (1 + J)N))
use an online calculator or the formula: P(1+R/12)N
call a bank and talk to a loan officer

Answer 1

The answers is A I believe. She should calculate the total cost of a car loan. She should multiply the amount of the loan by the APR.

Answer 2

She should ; A. Multiply the amount of the loan by the APR

Step-by-step explanation

Annual Percentage Rate(APR) is the highest of the two rates and will show the total cost an individual covers when financing the vehicles which includes the fees and interest followed to the day of first payment. The loan amount is multiplied by the APR.