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Installment Buying 2
Contributed by: Smith
+
     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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