# SOLUTION: A \$23,000 car is purchased with a s\$8300 down payment, the balance to be paid in 48 montly payments of \$363.75 each, Find the total cost and the finance charge.

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 Click here to see ALL problems on Finance Question 98766: A \$23,000 car is purchased with a s\$8300 down payment, the balance to be paid in 48 montly payments of \$363.75 each, Find the total cost and the finance charge.Answer by malakumar_kos@yahoo.com(315)   (Show Source): You can put this solution on YOUR website! A \$23,000 car is purchased with a s\$8300 down payment, the balance to be paid in 48 montly payments of \$363.75 each, Find the total cost and the finance charge. cost of the car = \$23,000 down payment = \$8300 Balance amount = \$14,700 monthly instalment = \$363.75 no of instalments = 48 amount paid during instalment = \$363.75x48 = \$17,460 Total cost paid for the car = \$25,760