3800 Anyone bored ... need some #'s crunched

burtgtp1973

TCG Elite Member
Jan 20, 2009
1,277
0
Bourbonnais Illinois
can someone please explain these figures ...

OK .. my friend bought this car ... he paid 6825.00 for the car . SALE PRICE

doc fee.51.44
7% Il Tax: 481.35
title lics. : 143.00

ok he told the dealer he would pay 7500.00 OUT THE DOOR . dealer said done.

here is the part that is getting me ...

APR 8.5 % @ 48 months ....iam figureing the interest to be 637.50 his paperwork reads $ 1373.45 for a total amount of $8874.24 after all payments made .

he put no money down and had no trade ...

what am i not figuring properly as far as the interest goes ? 7500.00 x % 8.5 = 637.50 correct ? in my world should make the total amount financed $ 8137.00
 
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