Question

Given the following information:

Cost of car $12,600
Down payment $3,000.00
Monthly payment $231.50
term of Loan : 48 months
whats the total installment price
(round answer to the whole dollar

Answer 1

$14,112

Explanation:

The sum of the 48 monthly payments is ...

48 × $231.50 = $11,112

Together with the down payment the total installment price is ...

$11,112 +3,000 = $14,112