Question

31. If you buy a $23,500 car for $1000 down and monthly payments of $554.59 for 48 months, how much will you pay in total for the car? Round your answer to the nearest dollar.$

Answer 1

To determine how much will you pay in total for the car we multiply the monthly payments for the time you pay them and add the down payment; then in this case we have:

`1000+48(554.59)=27620.32`

Therefore you will pay a total of $27,620 in total for the car.