Question

DAN miller bought a new Toyota truck for $28,000. Dan made a down payment of $6000 and paid $390 monthly for 70 months. What is the total finance charge/

Answer 1

Total paid ( including down payment)
6,000+360×70=31,200

Finance charge
31,200−28,000=3,200

Answer 2

Take his total payments and subtract the value that he actually borrowed and you will know the total finance charge.

F=70(390)-(28000-6000)

F=27300-22000

F=$5300.00