SOLUTION: Forrest is purchasing a car priced at $7,299. His down payment is $299 and his monthly payments are $165 per month for 48 months. The deferred cost of the car is

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Question 886698: Forrest is purchasing a car priced at $7,299. His down payment is $299 and his monthly payments are $165 per month for 48 months. The deferred cost of the car is
Answer by JulietG(1812) About Me  (Show Source):
You can put this solution on YOUR website!
The cash price of the car is $7,299
His down payment is $299
He finances the other $7,000 which ends up costing him 165 * 48, or $7920
Had he paid cash, he would have saved $920.