1. Doug purchased a new Toyota Tundra pickup truck for $35,000 and financed $31,000 with a 5 year, 4% loan. What is total finance or interest cost associated with the loan?
$3434
$3261
$3070
$2964
2. Fred purchased a new Toyota Tundra pickup truck for $35,000 and financed $31,000 with a 5 year, 4% loan. What is the actual amount borrowed?
$35,000
$33,000
$31,000
$29,000