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Interest & Total Payment

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Elise is buying a car for $14,390. She has a $1000 trade-in allowance and will make a $1500 down payment. She will finance the rest with a 4-year auto loan at 2.6% APR.

 

A) What is the total amount of interest she will pay?

B) What is her total payment for the car?

 Mar 17, 2019

4+0 Answers

 #1
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Did you look under your post of yesterday? What is it that you don't understand? 

 Mar 17, 2019
 #2
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I believe I got the interest part but I'm unsure of how to find the total payment that she will pay.

Guest Mar 17, 2019
 #3
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Total amount of loan payback(which includes interest) + $1,500 down payment + $1,000 trade-in-allowance.

Guest Mar 17, 2019
 #4
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So, I got 15031.84, Thanks so much.

Guest Mar 17, 2019

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