Enter the monthly loan cost ($), the monthly maintenance cost ($), and the monthly insurance cost ($) into the Total Car Cost Calculator. The calculator will evaluate and display the Total Car Cost. ## Total Car Cost Formula The following formula is used to calculate the Total Car Cost. TCC = LC + MC + IC • Where TCC is the Total Car Cost ($)
• LC is the monthly loan cost ($) • MC is the monthly maintenance cost ($)
• IC is the monthly insurance cost ($) ## How to Calculate Total Car Cost? The following example problems outline how to calculate Total Car Cost. Example Problem #1 1. First, determine the monthly loan cost ($). The monthly loan cost ($) is given as 500 . 2. Next, determine the monthly maintenance cost ($). The monthly maintenance cost ($) is calculated as 50 . 3. Next, determine the monthly insurance cost ($). The monthly insurance cost ($) is found to be 200. 4. Finally, calculate the Total Car Cost using the formula above: TCC = LC + MC + IC Inserting the values from above yields: TCC = 500 + 50 + 20 = 750.00 ($)

Example Problem #2

The variables needed for this problem are provided below:

monthly loan cost ($) = 300 monthly maintenance cost ($) = 100

monthly insurance cost ($) = 100 Entering these values and solving gives: TCC = LC + MC + IC = 500.00 ($)