Final answer:
The total amount Hans paid for the car, including his down payment and loan payments, was $24,468.16. The amount of interest paid on the loan was $1,168.16. Thus, the correct answers are not listed among the options provided by the student.
Step-by-step explanation:
To calculate the total amount Hans ended up paying for the car, we need to add the down payment to the total of all monthly payments made for the loan. Hans made a down payment of $4600 and took out a loan for the remaining amount of the car's cost. The monthly payment on the loan was $413.92 for 4 years (which is 48 months).
First, let's calculate the total of all monthly payments:
- Monthly payment: $413.92
- Total number of payments: 48 (4 years x 12 months per year)
- Total of all payments: 48 x $413.92 = $19,868.16
Now, let's add the down payment to this total:
- Total payments + Down payment: $19,868.16 + $4600 = $24,468.16
So, the total amount Hans paid for the car is $24,468.16.
To find the interest paid on the loan, we need to subtract the principal of the loan (the amount borrowed) from the total payments made towards the loan:
- Amount borrowed (Principal) = Car's cost - Down payment = $23,300 - $4600 = $18,700
- Interest paid = Total of all payments made - Principal borrowed = $19,868.16 - $18,700 = $1,168.16
The correct answer is: (a) Total amount paid for the car = $24,468.16, and (b) Interest paid on the loan = $1,168.16. Therefore, none of the answer choices provided by the student are correct.