Jean paid $18.489 for a new car. Calculate the total cost of the car if she financed it at an interest rate of 3.5 for 4 years.?

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1028536

2026-04-30 20:26

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To calculate the total cost of the car after financing, we would use the formula for the total payment on a loan, which includes principal and interest. The monthly payment can be calculated using the formula for an amortizing loan, but for simplicity, we can estimate:

Total interest paid over 4 years (48 months) at 3.5% on $18,489 is approximately $1,362.72, making the total cost of the car about $19,851.72.

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