Question

1. You want to purchase a car that costs $25,000. You must pay a 10% down payment. How much is this?

Answer: 2,500

2. What do you still owe?

Answer: 22,500

3. Determine the monthly payment for 60 months with an APR of 5.5%. Round to the nearest cent.

Answer: 22,500(0.055/12)/(1-(1+0.055/12)^(-60)= 429.78 rounded to the nearest cent.

4. How much do you pay all together at the end of the 60 months including the down payment and interest charges?

I need help with number 4. Please.
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Answer 1

Answer: If interest is not given, it would be 25,000+ interest as your answer

Explanation: