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.
       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