Question

Amount financed is equal to: Cash price times down payment Cash price plus down payment Cash price minus down payment Cash price divided by down payment None of these

Answer 1

The answer is Cash Price Minus Down Payment

For Example if you want to Borrow $ 10,000 for Loan, and for that you have to pay for a $500 Down Payment.

The amount financed is 10,000 - 500 = $ 9,500