select the correct answer. jared has taken out a loan for his car. his monthly payments amount to $650. if…

select the correct answer. jared has taken out a loan for his car. his monthly payments amount to $650. if his loan is for 36 months, and he paid a down payment of $400, what is the total cost of the car for jared? a. $15,050 b. $23,800 c. $28,300

select the correct answer. jared has taken out a loan for his car. his monthly payments amount to $650. if his loan is for 36 months, and he paid a down payment of $400, what is the total cost of the car for jared? a. $15,050 b. $23,800 c. $28,300

Answer

Explanation:

Step1: Calculate total loan payments

Multiply monthly payment by number of months. $650\times36 = 23400$

Step2: Calculate total cost of car

Add down - payment to total loan payments. $23400 + 400=23800$

Answer:

B. $23,800$