Question

find the cost of a car using the installment plan if the down payment is $1,500 and the monthly payments are $385 for 4 years, step by step explanation please

Answer 1

Well, if this is assuming there is no tax on the vehicle and it is fully paid off by the end of the payments, an equation can be set up like the following. 385x+1500=C, x being months and C being total cost. 385(12*4)+1500= C, 385(48)+1500=C, 18480+1500=C, 19980=C.