Question

Step 7 of 12 If you choose to purchase the car instead, you will need to pay: A down payment of $1,299.50 Monthly payments of $372.58 for three years What would be your cost to purchase and own the Coarser for four years?

Answer 1

Answer:

$14,712.38

Explanation:

To calculate the total cost to purchase this car, we need to multiply the monthly payments times 36 (= 3 years x 12 months per year), and add the down payment.

total cost = (monthly payments x 36) + down payment = ($372.58 x 36) + $1,299.50  

total cost = $13,412.88 + $1,299.50  = $14,712.38