Question

Jared has taken out a loan for his car. His monthly payments amount to $650. If his loan is for 36 months, and he paid a down payment of $400, what is the total cost of the car for Jared? A. $15,050 B. $23,800 C. $28,300

Answer 1

B! 650 x 36 +400 = 23,800!

Answer 2

$23800.

Explanation:

Monthly payment of loan of a car = $650

His loan is for 36 months

So, Total payment of 36 months =
`36 * 650`

=
`23400`

He paid the down payment of amount $400

So, Total cost of the car =
`23400+400`

=
`23800`

Hence the total cost of the car for Jared is $23800.

So, Option B is correct.