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mamhud
Mar 19, 2008, 03:38 PM
you purchase a car for $30000 with a down payment of $2000. You will make 60 monthly payments of $541 each. What is the total finance costs on this loan?

My work:

30000-2000=28000
541*60=32460
32460-28000=4460

Not sure if this is the way to go or not. seams to simple.
amricca
Mar 19, 2008, 03:49 PM
Seems right to me
morgaine300
Mar 20, 2008, 10:32 PM
Not sure if this is the way to go or not. seams to simple.

Contrary to popular belief, some things actually are fairly simple. Take advantage of them. ;)
CaptainForest
Mar 22, 2008, 04:50 PM
Seems right to me too.