A car is advertised as $288/month for 72 months. What is the cost of the car?
1 answer:
Answer:
$20,736
Step-by-step explanation:
When these kind of advertisements are displayed,, it means the EMI cost per month shall be $288.
Since it provides the time period, that is 72 months,
Total cost of car in this case shall be $288 72 months = $20,736
Also, these include an interest factor, but overall it is = $20,736 only,
If one down payment for full price of the car is made the cost shall reduce by the interest amount, but since no interest rate is provided it shall be ignored.
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