+0  
 
+1
70
7
avatar+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
avatar+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

 

 

cool cool cool

 Apr 30, 2020
 #2
avatar+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
avatar+111360 
+1

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

 

LOL!!!!

 

cool cool cool

CPhill  Apr 30, 2020
 #4
avatar+317 
+1

THANK YOU AGAIN CPHILL!  UR THE BEST!

KennedyPape  Apr 30, 2020
 #5
avatar+317 
+2

Thank you so much LuckyDucky! Really appreciate it! 

KennedyPape  Apr 30, 2020
 #6
avatar+111360 
+1

Thx, Kennedy!!!

 

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

 

 

cool cool cool

CPhill  Apr 30, 2020
 #7
avatar+656 
+1

Of course just being a verifier (LOL) 

LuckyDucky  Apr 30, 2020

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