1. BUYING A NEW CAR 1
Buying a New Car
April D. Metcalf
MATH103
K. Hockaday
October 18, 2013

2. BUYING A NEW CAR 2
Amount to
Finance
Percent Down
(%)
Months to
Pay Off Loan
Percent
Interest
Loan Amount
Monthly
Payment
Total Paid in
Interest
$15,000.00 20% 36 2.09% $12,000.00 $342.31 $323.16
$30,000.00 20% 36 2.09% $24,000.00 $684.63 $646.68
$45,000.00 20% 36 2.09% $36,000.00 $1,026.94 $969.84
$0.00
$200.00 $400.00
$600.00
$800.00
$1,000.00
1
2
3
Total Paid in
Interest,
$323.16
Axis Title
Total Paid in Interest

3. BUYING A NEW CAR 3
This portfolio project has finally helped me to make sense of all of the confusion that I
have suffered each time that I’ve bought a new or used vehicle. Until now, the only financial
concerns that I had pertaining to my decision to buy was, the price of the vehicle and how much
my payments, (if any), were going to be, and for how long will I be paying them. My entire
approach toward any future purchases will be so much different from now on, because I will be
able to determine/calculate the entire loan, as well as, I will actually know what the salesmen are
talking about when they begin their spill about interest rates. Now, I’m wondering how much
money I have paid in interest throughout the years on all of the many different vehicles I have
bought.