I am a bit lost on how to use a loan calculator in order to answer this question below:
You are a recent college grad and just received the job of your dreams. You have decide to purchase a new car and home. In preparing for your new car you do your research. Access and use a loan calculator for your car and home purchase. Analyze the following data:
Thank you in advance! Assignment Data Amount Length of Interest Interest Interest 1 Car Purchase Loan 2 3 $ 48 1.99 4.99 9.99 30,000 months $ 60 0.99 4.99 8.99 30,000 months Length Home Interest Interest Amount Purchase of Loan 1 2 $ 15 yrs 4.68 6.5 300,000 $ 30 yrs 3.68 4.68 300,000 Review the amortization tables for each loan and identify the total interest paid in each scenario.