Question

The Clean and Green car dealership is running a special on 2008 hybrids. You are interested in an Eviroclean hybrid that costs $28,250. Not including the down payment, how much will you pay over the lifetime of the loan?

a) $30,048.60
b) $33,387.00
c) $36,726.00
d) $39,250.30

Answer 1

To calculate the total amount paid over the lifetime of the loan, use the formula: Total amount paid = Loan amount + (Loan amount * Interest rate * Loan duration). However, without the interest rate and loan duration, the exact amount cannot be determined.

Step-by-step explanation:

To calculate the total amount paid over the lifetime of the loan, we need to add the cost of the car to the interest paid on the loan. Since the question does not provide the interest rate or duration of the loan, we cannot calculate the exact amount. However, we can provide a general formula to calculate the total amount paid on a loan.

Total amount paid = Loan amount + (Loan amount * Interest rate * Loan duration)

Using this formula with the given information, we can calculate the total amount paid. However, without the interest rate and loan duration, we cannot calculate the exact amount. Therefore, none of the provided options can be determined as the correct answer.