1. The Morrison family bought a car for $22,000 was which was financed at $600 per month for 40 months. The down payment was $3000. a. What is the Installment Price? (5 Points) Answer: b. What is the financial charge and amount financed? (5 Points) Answer: Solution a. Installment Price = $3,000 + ($600 x 40) = $27,000 b. Finance charge = $27,000 - $22,000 = $5,000 Amount financed = $22,000 - $3,000 = $19,000.