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In this problem, we need to calculate the monthly payments for various cars and determine which financing option is best for a person looking to buy a vehicle that costs no more than $35,000. The relevant data includes interest rates, loan terms, and car values.

### Steps to solve:

#### Part a: Calculate the monthly payments for cars within the $35,000 limit.
You are provided the formula to calculate the monthly payment $ C $:

\[
C = \frac{P \cdot \frac{r}{12}}{1 - \left(1 + \frac{r}{12}\right)^{-m}}
\]

Where:
- $ P $ = Loan amount (car price)
- $ r $ = Interest rate (decimal form)
- $ m $ = Number of monthly payments (loan term in months)

From **Table 1**, the cars under $35,000 are:
- **2024 Ford Maverick**: $25,700
- **2024 Jeep Compass**: $32,935

From **Table 2**, we have two financing options:
1. 36 months (3 years) at 9.90% interest
2. 48 months (4 years) at 11.00% interest

#### Part b: Calculate total interest.
Once the monthly payment $ C $ is known, the total interest paid is given by:

\[
\text{Total Interest} = C \cdot m - P
\]

Now let's calculate the monthly payment and total interest for each option for both cars. I'll perform the calculations next.Here are the results for each car's financing options:

### 2024 Ford Maverick ($25,700)
1. **3-year loan (9.90% interest)**:
   - Monthly payment: **$828.06**
   - Total interest paid: **$4,110.18**

2. **4-year loan (11.00% interest)**:
   - Monthly payment: **$664.23**
   - Total interest paid: **$6,183.04**

### 2024 Jeep Compass ($32,935)
1. **3-year loan (9.90% interest)**:
   - Monthly payment: **$1,061.17**
   - Total interest paid: **$5,267.27**

2. **4-year loan (11.00% interest)**:
   - Monthly payment: **$851.22**
   - Total interest paid: **$7,923.67**

### Observations:
- The **3-year loan** has higher monthly payments but less total interest paid compared to the **4-year loan** for both cars.
- The **Ford Maverick** offers lower monthly payments and less total interest than the **Jeep Compass** due to its lower price.

#### Do you want more details on any part, or help comparing options further?

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### 5 Related Questions:
1. How do interest rates affect the total amount paid on a loan?
2. What is the trade-off between a shorter and longer loan term?
3. How can one minimize interest payments when financing a car?
4. What other costs should be considered when purchasing a car with a loan?
5. How does credit score affect loan interest rates?

### Tip:
Paying more upfront as a down payment reduces the principal, which in turn decreases both your monthly payments and the total interest paid over the life of the loan.

How much would one pay monthly for the cars under $35,000 using the financing options provided, and which financing option generates the most interest?

This problem involves calculating monthly car loan payments for two vehicles priced under $35,000 using two different financing options: a 3-year loan with a 9.90% interest rate and a 4-year loan with an 11.00% interest rate. Learn how to compute monthly payments and total interest using the loan amortization formula.

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