Enter the finance charge ($), the amount borrowed ($), and the down payment ($) into the Total Installment Price Calculator. The calculator will evaluate and display the Total Installment Price.
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Total Installment Price Formula
The following formula is used to calculate the Total Installment Price.
TIP = FC + AB + DP
- Where TIP is the Total Installment Price ($)
- FC is the finance charge ($)
- AB is the amount borrowed ($)
- DP is the down payment ($)
How to Calculate Total Installment Price?
The following example problems outline how to calculate Total Installment Price.
Example Problem #1
- First, determine the finance charge ($).
- The finance charge ($) is given as 300.
- Next, determine the amount borrowed ($).
- The amount borrowed ($) is calculated as: 400.
- Next, determine the down payment ($).
- The down payment ($) is found to be: 500.
- Finally, calculate the Total Installment Price using the formula above:
TIP = FC + AB + DP
Inserting the values from above yields:
TIP = 300 + 400 + 500 = 1200.00 ($)
Example Problem #2
The variables needed for this problem are provided below:
finance charge ($) = 600
amount borrowed ($) = 700
down payment ($) = 800
This example problem is a test of your knowledge on the subject. Use the calculator above to check your answer.
TIP = FC + AB + DP = ($)
