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 = ($)