Shirley Stewart is planning to buy a Toyota hybrid for $18,979 with $2,200 down and plans to finance the car. Citizens' Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted her a finance charge at 7.5% for 60 months.
a.What would be her monthly payment to Citizens' Financial Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.
Monthly payment: $_________
b.What would be her monthly payment to Charter One Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.
Monthly payment: $__________
c.How much more would her monthly payment be on the 48-month loan? (Do not round intermediate calculations. Round your answer to the nearest cent.
More in monthly payment: $___________