Author Question: You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. ... (Read 54 times)

sammy · **on:** Apr 25, 2021

You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined below.
BMW M5
RWD, 500hp, 0-100 in 4.7s
PRICE = $80,000
Term = 36 months
i = 4.0%
Down Payment = $0
Monthly Payments (end-of-month) = $2,361.92
How much interest does the borrower pay over the term of the loan? In other words, how much of the blended loan payments is interest?
◦ $5,029.08
◦ $3,401.17
◦ $3,200.00
◦ $5,561.92
◦ $5,763.09

Juro · **Reply #1 on:** Apr 25, 2021

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