Question

Determine the actual cost, including interest, of a $3,450 used car with a down payment of $200 and 48 monthly payments of 75$ each.

Answer 1

$3,800

Explanation:

$200 (down payment) + 48 x $75 (monthly payments)

$200 + $3600 = $3800

Since the original car was $3450, there was $350 in interest ($3800 - $3450 = $350)