Question

Eddie finds a good deal on a used car that he likes. He makes a down payment of $450 and pays $199 a month for 36 months. What is the deferred price of the car ?

Answer 1

$7,614

Explanation:

$450 + (199*36)

$450 + ($7,164)

$7,164

Answer 2

The deferred price of the car is $7,168.50

Explanation:

1. $4.50+ ($199 x 36months)

2. $4.50+($7,164)

3. This is the total deferred price of the car Eddie bought ⇒ $7,168.50