The total amount that must be paid when the purchase is paid for over a given period of time is the:

Question

Quizplus · Accepted Answer

The installment price is the total amount that must be paid when a purchase is paid for over a given period of time. The amount financed is the amount of credit extended to the borrower, the financed price could refer to either the cash price or the amount financed plus any applicable fees/interest, and the cash price is the price if the purchase is paid for in cash upfront. However, only the installment price matches the definition given in the question.

The Total Amount That Must Be Paid When the Purchase