Use this information to answer Parts A, B, C, and D.
Regina is buying a new car. She sees two advertisements in the paper for the same car at two different prices from two different dealerships. Both dealers are offering a simple-interest loan for the price of the car.
A photo of car includes two ads. Ad A shows the vehicle priced at twenty-four thousand two hundred dollars at six point five percent interest and an unknown number of years. Ad B shows an unknown price, at a five point three percent interest over nine years.
Part A
Regina calculates that to buy the car in Ad A, the loan would ultimately cost her $41,503. Over how many years is the loan in Ad A to be paid back?
Part B
Regina calculates that to buy the car in Ad B, the loan would ultimately cost her $38,402. What is the price of the car offered in Ad B?
Part C
In either case, Regina would be paying back the dealer in equal monthly installments over the lifetime of the loan. What would her monthly payments be if she bought the car shown in Ad A? What about if she bought the car shown in Ad B?
Part D (Its a multi-pick question, so you don't need to answer)