Question

Experiment with the values in the calculator to complete the chart. Use up or down arrows to indicate how the action impacts the monthly payment and total cost of the car loan.

a) Increase in value
b) Decrease in value
c) No change
d) Insufficient information provided

Answer 1

Experimenting with values in a car loan calculator can have different impacts on the monthly payment and total cost. Increasing or decreasing certain values will generally lead to corresponding changes in the monthly payment and total cost. If there is no change or insufficient information, the impact may be different.

When experimenting with values in a car loan calculator, different actions will have different impacts on the monthly payment and total cost of the loan. Let's go through the options:

1. If you increase the value, it will generally lead to an increase in the monthly payment and total cost of the car loan. For example, if you increase the loan amount, the monthly payment will be higher.
2. If you decrease the value, it will generally lead to a decrease in the monthly payment and total cost of the car loan. For example, if you reduce the interest rate, the monthly payment will be lower.
3. If there is no change in the value, then there will be no impact on the monthly payment and total cost of the car loan.
4. If there is insufficient information provided, it means that we don't have enough information to determine the impact on the monthly payment and total cost of the car loan.