The table shows a schedule of Evita’s payment plan for a used car. Evita’s Payment Plan for the First Three YearsYearBalanceMonthly PaymentEnd of YearBalance1 $356.82 2 $356.82 3 $356.82$8,563.39Evita paid $2,408.91 in interest. What was the selling price of the car?

In three years, Evita makes 36 monthly payments: 36 × $356.82 = $12,845.52. Add the $8,563.39 still owed at the end of year 3, then subtract the $2,408.91 paid in interest to find the car’s selling price: $12,845.52 + $8,563.39 − $2,408.91 = $19,000.00. The selling price was $19,000.00.

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