Question

Jared is taking out a loan for his car. His monthly payments amount is for $650. If his loan is for 36 months, and he paid down a down payment for $400, what is the total cost of the car for Jared?

Answer 1

Monthly payment =$650

payment for 36 months =36*650= 23400

down payment =$400

total amount = $23400 + $400 = $23800