Follow the steps above, and find c, the total of the payments related to financing, and the monthly payment. A customer buys an automobile from you, the salesman. The price of the car, which includes taxes and license, amounts to $5,955.00. The customer wants to finance the car over 48 months after making a $500 down payment. You inform him that the true annual interest rate is 18%. To the nearest penny, c = $ . Total of payments = amount financed + c = $ . Total of payments ÷ number of payments = monthly payment = $ .