You Are Considering Purchasing a New Automobile with the Upfront

Multiple Choice

You are considering purchasing a new automobile with the upfront cost of $25,000 or leasing it from the dealer for a period of 60 months. The dealer offers you 4.00% APR financing for 60 months (with payments made at the end of the month) . Assuming you finance the entire $25,000 through the dealer, your monthly payments will be closest to ________.

A) $368
B) $460
C) $552
D) $645