Answer :
If the down payment is $5,000and the monthly payment is $750. Then the amount of the truck through finance is $50,000.
What is finance?
The big-scale money management, particularly by governments or huge corporations.
Julio wants to purchase a truck.
The purchase price of the truck is $ 38,000.00.
The dealership will allow him to pay cash or finance the truck for a down payment of $ 5,000.00 and 60 monthly payments of $ 750.00.
Julio chooses to finance the truck.
If he makes the payment through finance. Then the amount of the money he has to pay will be
Amount = 5000 + 60 × 750
Amount = 5000 + 45000
Amount = $50,000
If he makes the payment through finance. Then the amount of money he has to pay is 50,000 dollars.
More about the finance link is given below.
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