Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,500. Her loan requires a 25% down payment and equal monthly payments of $281.00 for 60 months. Calculate the total deferred payment price (in $).
$

To calculate the total deferred payment price, we can break down the process into the following steps:

### 1. **Find the down payment:**
Anny is required to pay 25% of the cost of the pickup truck as a down payment.

\[
\text{Down payment} = 25\% \times 14,500 = \frac{25}{100} \times 14,500 = 3,625
\]

### 2. **Find the total amount paid through monthly installments:**
The loan is for 60 months, with each monthly payment being $281. Therefore, the total amount paid over 60 months is:

\[
\text{Total monthly payments} = 281 \times 60 = 16,860
\]

### 3. **Calculate the total deferred payment price:**
The total deferred payment price is the sum of the down payment and the total amount paid in monthly installments:

\[
\text{Total deferred payment price} = 3,625 + 16,860 = 20,485
\]

Thus, the total deferred payment price is **$20,485**.

Would you like more details, or do you have any questions?

### Related questions:
1. What is the total interest paid on the loan?
2. How would the deferred payment price change if the down payment percentage were different?
3. What is the APR (Annual Percentage Rate) for this loan?
4. How much would the monthly payments be if the loan term were shorter or longer?
5. How does this deferred payment compare to paying the full amount upfront?

### Tip:
Always compare the total deferred payment price with the original price of the purchase to assess the total cost of financing.

Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,500. Her loan requires a 25% down payment and equal monthly payments of $281.00 for 60 months. Calculate the total deferred payment price (in $).

Learn how to calculate the total deferred payment price for a $14,500 pickup truck with a 25% down payment and 60 monthly payments of $281. This problem covers percentage calculations and installment payments, suitable for students in Grades 6-9.

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