+0

+1
70
7
+317

The table shown represents the details of a car loan.

 Cost of car \$11,578 Down Payment \$4,100 Amount Financed A Monthly Payment \$251.34 # Months 36 Amount Repaid B Finance Charge C Total Cost D

So I need to find the values of all the bolded letters but I'm super confused on how to do that. Thank you so much in advance!

Apr 30, 2020

#1
+111360
+4

Amount financed  =  cost of car - down payment =  11578 - 4100   = 7478

Amt repaid  = monthly payment x months  = 251.34 x 36   =  9048.24

Finance charge =  amt repaid - amt financed  = 9048.24 - 7478  = 1570.24

Cost of car =  down payment  + amt repaid =  4100 + 9048.24  = 13,148.24

Apr 30, 2020
#2
+656
+2

Yep I just did the question myself and I reached the same answer as CPhill

Here to help

:D

LuckyDucky  Apr 30, 2020
#3
+111360
+1

Well.....two great minds couldn't be wrong  ( could we  ???  )

LOL!!!!

CPhill  Apr 30, 2020
#4
+317
+1

THANK YOU AGAIN CPHILL!  UR THE BEST!

KennedyPape  Apr 30, 2020
#5
+317
+2

Thank you so much LuckyDucky! Really appreciate it!

KennedyPape  Apr 30, 2020
#6
+111360
+1

Thx, Kennedy!!!

[ Not the best.....but I try hard     ....  ]

CPhill  Apr 30, 2020
#7
+656
+1

Of course just being a verifier (LOL)

LuckyDucky  Apr 30, 2020