Installment Buying 2

+ Monthly Payments Total Amount Financed Finance Charge Total of all monthly payments. Total $ repaid on the loan The Interest on the $ borrowed. The cost for getting a loan. $ Borrowed The loan amount + Monthly Payments Total Amount Financed Finance Charge Total $ repaid on the loan Borrowed $ + interest. ? The Interest on the $ borrowed. ? $ Borrowed ? + Monthly Payments Total Amount Financed Finance Charge Antonio wants to buy a car for $12,000. He puts $2,000 DOWN, how much must he borrow (finance)? + Monthly Payments Total Amount Financed Finance Charge Antonio borrows $10,000. He pays it back with 60 monthly payments of $180. How much do the monthly payments total? + Monthly Payments Total Amount Financed Finance Charge Antonio borrowed $10,000 he paid back $10,800 What was the finance charge (cost of getting the loan)? + Monthly Payments Total Amount Financed Finance Charge A $12,000 car was purchased; $2,000 down (paid NOW). $10,000 was BORROOWED, $10,800 was paid back. + Monthly Payments Total Amount Financed Finance Charge A silver car cost $11,000. Henri put $3000 DOWN and borrowed (financed) the rest. He repaid the LOAN with 10 monthly payments of $900 (← fill in the blanks ) + Monthly Payments Total Amount Financed Finance Charge He later paid $300 per month for 60 months. Javier put $4000 DOWN for a $20,000 car. ( ←fill in the blanks) + Monthly Payments Total Amount Financed Finance Charge This $27000 car can be financed by paying $3,000 down and $440 per month for 60 months. The End |

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