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

financial alg 
Ms. Sue
20,640  2440 = 18,200
I = 18,200 * .104 * 5
I = 9,464
18,200 + 9,464 + 2,440 = ? 
financial alg 
Alexandria
i got 30104, this is still not any of the answer choices....
Respond to this Question
Similar Questions

accounting
House mortgage You have just purchased a house and have obtained a 30year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? 
finance
equipment cost $20,000 and is financed over a period of five years at an interest rate of 12%...What is the monthly payment...What is the loan balance at the end of four years and how much interest will have been paid on the loan after … 
Algebra
This assignment is about a car loan. A financial institution in your community is advertising "Simple Interest Car Loans." Here is their ad. "Looking for an attractive loan for the car of your dreams? 
accounting
You have just purchased a house and have obtained a 30year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? 
MATH
Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement … 
MATH
Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement … 
consumer math
Alisha has a fiveyear car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much will she pay in total for her car? 
math  interest rates
Car loan: 5yr annualpayment loan with interest rate of 6% per year. Annual payment = $5,000. You have just made a payment and decided to pay the loan off by repaying the outstanding balance. a) what is payoff amount if you have owned … 
math
The Taylors have purchased a $290,000 house. They made an initial down payment of $10,000 and secured a mortgage with interest charged at the rate of 10%/year on the unpaid balance. Interest computations are made at the end of each … 
Advanced Algebra
Camille purchased a motorcycle for $5,723. She made a down payment of $1,775. She applied for a fouryear installment loan with an interest rate of 10.2%. What is the total cost of the motorcycle after four years?