Question

The price of a Honda Civic is $26,750. You can finance this by paying $3500 down and $455 per month for 60 months. Determine the total finance charge. A. $3500 B. 3750 C. $4050 D. $5200

Answer 1

Explanation:

455 per month for 60 months = 60 * 455 = 27,300

Plus amount of down payment = 27,300 + 3,500 = 30,800

Finance charge = 30,800-26,750 = 4,050