At a used car sales lot, a person has $2 000 for a down payment and can afford $150 per week. The business offers a loan at 8%/a compounded weekly.
What is the most this person can spend on the car, if the loan must be for 2 years?
Explain which would have a greater effect on the total amount of interest:
Increasing the down payment by $500.
Increasing the weekly payments by $10.
