Question

The cost of a car is $15,570. You plan to make a down payment of $1,500, and a monthly payment of $338.08 for 60 months. What is the amount financed? Round your answer to the nearest dollar.

A - $20,285
B - $14,070
C - $21,784
D - $6,214

The cost of a car is $15,570. You plan to make a down payment of $1,500, and a monthly payment of $338.08 for 60 months. What is the total repaid? Round your answer to the nearest dollar.
A - $20,285
B - $14,070
C - $21,784
D - $6,214

The cost of a car is $15,570. You plan to make a down payment of $1,500, and a monthly payment of $338.08 for 60 months. What is the finance charge? Round your answer to the nearest dollar.
A - $20,285
B - $14,070
C - $21,784
D - $6,214

The cost of a car is $15,570. You plan to make a down payment of $1,500, and a monthly payment of $338.08 for 60 months. What is the total cost that will be paid? Round your answer to the nearest dollar.
A - $20,285
B - $14,070
C - $21,784
D - $6,214

Answer 1

Hi there
1) b
15,570−1,500
=14,070
2) a
338.08×60
=20,284.8
3)d
20,284.8−14,070
=6,214.8
4) c
338.08×60+1,500
=21,784.8

Hope it helps

Answer 2

Amount financed is $14070 .

Option (B) is correct .

Explanation:

As given

The cost of a car is $15,570.

You plan to make a down payment of $1,500 and a monthly payment of $338.08 for 60 months.

Amount financed = Cost of the car - Down payment price

Putting values in the above

Amount financed = $15570 - $1500

= $ 14070

Therefore the amount financed is $14070 .

Option (B) is correct .