18. Complete the chart for the yearly cost of the car. In the space below write the Ycaity Totel and the cost of the car over the life of the loan (Grand Total). Based on your calculations do these figures make sense? Discuss whether these numbers are higher or lower than you expected and whether you personally would be able to afford this vehicle. Make sure you 143 Signature Assignment Page 5 of 8 consider and discuss other life expenses. Al verbal responses must be in complete sentences. Your response should be at least 6 sentences. Yeaty Totat: se9,514 Grand Totel: \( \$ 135,643.60 \)

To analyze the yearly cost of the car and the grand total over the life of the loan, we can break down the figures provided: 1. **Yearly Total Cost**: The yearly total cost of the car is given as \( \$ 9,514 \). This figure likely includes expenses such as loan payments, insurance, maintenance, fuel, and possibly taxes. 2. **Grand Total Cost**: The grand total over the life of the loan is \( \$ 135,643.60 \). This amount represents the total expenditure on the car, which could span several years depending on the loan term. ### Discussion of Figures - **Affordability**: The yearly cost of \( \$ 9,514 \) translates to approximately \( \$ 793 \) per month. For many individuals, this could be a significant portion of their monthly budget, especially when considering other essential expenses such as housing, food, healthcare, and savings. - **Comparison to Expectations**: When I consider the grand total of \( \$ 135,643.60 \), it seems quite high. This figure may be higher than I initially expected, especially if the car is not a luxury model. It raises questions about the long-term financial commitment involved in owning a vehicle. - **Life Expenses**: In addition to the car costs, I must also consider other life expenses. For instance, if I have rent or mortgage payments, utility bills, groceries, and other financial obligations, the total cost of owning this vehicle could strain my budget. - **Personal Affordability**: Personally, I would need to evaluate my financial situation carefully. If my income allows for such a significant monthly payment without compromising my ability to meet other financial responsibilities, then it might be feasible. However, if it leads to financial stress or limits my ability to save for future goals, I would reconsider the purchase. In conclusion, while the figures provided give a clear picture of the costs associated with the car, they also highlight the importance of considering overall financial health and the impact of such a purchase on my lifestyle.