Solve the problem.
-In order to buy a $\$ 25,000$ car, you put down $\$ 2000$ and take out a loan on the balance. To pay off the loan, you pay $\$ 472.78$ for the following 72 months. How much more will you end up paying for the car than the original price of $\$ 25,000$ ? Round your answer to the nearest dollar.
A) $\$ 34,040.00$
B) $\$ 36,040.00$
C) $\$ 11,040.00$
D) $\$ 9040.00$

Question

Quizplus · Accepted Answer

The total amount paid for the car is the down payment plus the total of all monthly payments: $2000 + (72 * $472.78) = $2000 + $34040 = $36040. The difference between this total and the original price is $36040 - $25000 = $11040.

Solve the Problem $25,000\$ 25,000$25,000 Car, You Put Down $2000\$ 2000$2000 And Take Out a Loan on the Balance

Solve the Problem $\$ 25,000$ Car, You Put Down $\$ 2000$ And Take Out a Loan on the Balance