The Clean and Green car dealership is running a special on 2008 hybrids. The dealership requires the customer to make a down payment of 10% of the cost of the vehicle and will finance the balance with a 6.78% annual interest loan for 60 months (5 years). 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
c.
$36,726.00
b.
$33,387.00
d.
$39,250.30
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