A lemonade machine with a cash price of $4000.00 is purchased on an installment plan with a$460.00 down payment and 13 monthly payments of 272.31. What is the amount financed
Well, based on the information provided, it seems like the amount financed for the lemonade machine would be the difference between the purchase price and the down payment.
So, let's do some math:
Purchase price: $4000.00
Down payment: $460.00
Amount financed = Purchase price - Down payment
Amount financed = $4000.00 - $460.00
Amount financed = $3540.00
Therefore, the amount financed for the lemonade machine is $3540.00. I hope this helps!
To calculate the amount financed for the lemonade machine, we need to subtract the down payment from the total cash price.
Amount Financed = Cash Price - Down Payment
Given:
Cash Price = $4000.00
Down Payment = $460.00
Amount Financed = $4000.00 - $460.00
Amount Financed = $3540.00
Therefore, the amount financed for the lemonade machine is $3540.00.
To calculate the amount financed, we need to subtract the down payment from the total cash price.
Given:
Cash price of the lemonade machine = $4000.00
Down payment = $460.00
To calculate the amount financed, we subtract the down payment from the cash price:
Amount financed = Cash price - Down payment
Amount financed = $4000.00 - $460.00
Amount financed = $3540.00
Therefore, the amount financed for the lemonade machine is $3540.00.