Write a formula for the total amount he has paid toward the cost of the car (including down payment)?

[匿名]

2016-09-03 10:48 pm

A vehicle owner wants to calculate the total cost of his 2007 Jeep Compass with a MSRP of $18,366. His monthly loan payment is $314.54 for 5 years after he puts down a $2000 down payment.

(a) Write a formula for the total amount he has paid toward the cost of the car (including down payment), T, as a function of the number of months he has made payments on the loan, m

(b) What is the total cost of the Jeep, after he has made all of the payments?

(c) How much money has he paid in interest for his Jeep?

回答 (1)

Sqdancefan

2016-09-03 11:07 pm

✔ 最佳答案

a) (total amount paid) = (down payment) + m*(monthly payment)

b) (total amount paid) = $2000 + 60*$314.54 = $20,872.40

c) $20,872.40 - $18,366 = $2506.40
.. Here, we presume the negotiated selling price is the MSRP.

👍 0 👎 0