SOLUTION: Model: Subcompact Cash price: $4,990 Down payment: $1,500 Number of payments: 36 Monthly payment: $109.94 Finance charge: __________

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Question 519308: Model: Subcompact
Cash price: $4,990
Down payment: $1,500
Number of payments: 36
Monthly payment: $109.94
Finance charge: __________
Answer by tracyc0912(40) About Me  (Show Source):
You can put this solution on YOUR website!
Cash price $4990 - down payment $1500= $3490 (Amount financed)
Monthly payment = $109.94 x 36 months = $3957.84 (total payback with interest)
Total Payback with interest $3957.84 - $3490 (Amount Financed) = Total Finance charge which is $467.84
Good luck:-)