Posted by **Janae** on Sunday, May 12, 2013 at 7:32pm.

Forrest purchased a car for $20,640. He made a down payment of $2,440. He applied for a five-year installment loan with an interest rate of 10.4%. What is the total cost of the car after five years?

- financial alg -
**Ms. Sue**, Sunday, May 12, 2013 at 7:38pm
20,640 - 2440 = 18,200

I = 18,200 * .104 * 5

I = 9,464

18,200 + 9,464 + 2,440 = ?

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