bangellea977 bangellea977

09-07-2024
Business

Answered

What is meant by the term "total installment price"?

A. Cost of the product
B. Total amount you end up paying
C. Total interest paid on the loan
D. Amount you pay at the time of purchase

Please select the best answer from the choices provided:

A
B
C
D

Answer :

GinnyAnswer GinnyAnswer

09-07-2024

Final answer:

Total installment price is the total amount including principal and interest paid when borrowing money for a purchase.

Explanation:

Total installment price refers to the total amount you end up paying when borrowing money, including the initial loan amount plus any interest or fees incurred over the repayment period. It encompasses the cost of the product along with any additional charges associated with the loan. For example, if you borrow $10,000 to buy a car, the total installment price would be the sum of the borrowed amount plus the interest paid over the loan term.

Learn more about Loan Terms and Calculations here:

https://brainly.com/question/34911679

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andreaalexaspam andreaalexaspam

09-07-2024

B the total amount you end up paying is the correct answer

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