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A car dealer carries out the following calculations. List price $ 5,368.00 Options $ 1,625.00 Destination charges $ 200.00 Subtotal $ 7,193.00 Tax $ 431.58
A car dealer carries out the following calculations.
| List price | $ | 5,368.00 |
| Options | $ | 1,625.00 |
| Destination charges | $ | 200.00 |
| Subtotal | $ | 7,193.00 |
| Tax | $ | 431.58 |
| Less trade-in | $ | 2,932.00 |
| Amount to be financed | $ | 4,692.58 |
| 10% interest for 48 months | $ | 1,877.03 |
| Total | $ | 6,569.61 |
| MONTHLY PAYMENT | $ | 136.87 |
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Principles Of Managerial Finance
Authors: Chad J. Zutter, Scott Smart
16th Edition
0136945880, 978-0136945888
