Enter the finance charge ($), the amount borrowed ($), and the down payment ($) into the Total Installment Price Calculator. The calculator will evaluate and display the Total Installment Price. ## Total Installment Price Formula The following formula is used to calculate the Total Installment Price. TIP = FC + AB + DP • Where TIP is the Total Installment Price ($)
• FC is the finance charge ($) • AB is the amount borrowed ($)
• DP is the down payment ($) To calculate the total installment price, sum the finance charge, borrow amount, and down payment. ## How to Calculate Total Installment Price? The following example problems outline how to calculate Total Installment Price. Example Problem #1 1. First, determine the finance charge ($).
1. The finance charge ($) is given as 300. 2. Next, determine the amount borrowed ($).
1. The amount borrowed ($) is calculated as: 400. 3. Next, determine the down payment ($).
1. The down payment ($) is found to be: 500. 4. Finally, calculate the Total Installment Price using the formula above: TIP = FC + AB + DP Inserting the values from above yields: TIP = 300 + 400 + 500 = 1200.00 ($)

Example Problem #2

The variables needed for this problem are provided below:

finance charge ($) = 600 amount borrowed ($) = 700

down payment ($) = 800 This example problem is a test of your knowledge on the subject. Use the calculator above to check your answer. TIP = FC + AB + DP = ($)