Question

What's the dífference between paying $10,000 cash for a car or paying a loan of $200 per month for 60 months?

Answer 1

The loan will cost you 2000 dollars more.

Explanation:

If you pay 200 per month for 60 months, then you are paying 200(60) after the 60 months.

200(60)=12000.

So the loan will cost you 12000.

The difference between paying 12000 and 10000 is 2000.

The loan will cost you 2000 dollars more.