Question

the delivered price of leah st clairs new car is 22450. she makes a 2800 down payment and pays the balance in 36 monthly payments of 612. what total amount did leah pay for the car? how much was the finance charge?​

Answer 1

Total amount paid for the Car=$24,832

Finance Charge=$2,382

Explanation:

Down payment on the Car=$2800

Number of Monthly Installments=36

Amount Paid Per Installment=$612

Total Monthly Installment Paid=36*$612=$22032

Therefore, the Total Amount Paid for the Car=Down Payment+Total Installmental Payment=2800+22032=$24,832

Next, we determine the finance charge.

Finance Charge=Total Amount Paid for the Car - Delivered Price of the Car

=24832-22450

=$2,382

Therefore:

Total amount paid for the Car=$24,832

Finance Charge=$2,382