what is the finance charge if the cash price on the car is $9,500?[250 or 1,000 or 10,500 or 0?
2006-07-09 07:11:42 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Total price of car: 9500
Down payment: 1500
Payment of 249.98 per month for 36 months would be interest rate of 8.38%.
Total price of car: 10,500
Down payment: 1,500
Payment of 250 per month for 36 months would be interest rate of 0.0%.
Total price of car: 10,500
Down payment: 1,000
Payment of 263.88 for 36 months at 0.0% interest.
Total price of car: 10,500
Down payment: 0
Payment of 291.66 for 36 months at 0.0% interest.
2006-07-09 07:22:42 · answer #1 · answered by Mama Pastafarian 7 · 2⤊ 0⤋
250 per month for 36 months = $9,000
plus down payment of $1,500
equals total paid $10,500
If the cash price was $9,500, then the finance charges are $1,000.
2006-07-09 14:28:37 · answer #2 · answered by dathinman8 5 · 0⤊ 0⤋
Ignoring taxes, Ed financed $8,000 and made payments totalling $9,000. So the total interest paid was $1,000.
2006-07-09 14:18:06 · answer #3 · answered by Farly the Seer 5 · 0⤊ 0⤋
1000
2006-07-09 14:17:28 · answer #4 · answered by krisidious 2 · 0⤊ 0⤋
do your own home work
2006-07-09 14:47:22 · answer #5 · answered by Kenneth 2 · 0⤊ 1⤋