Question

14) Complete.

Answer 1

Finance charge is: d.) $69.25.

Finance charge

Using this formula

Finance charge=(Monthly payment× Number of payment)-(Purchase price-Down payment)

Let plug in the formula

Finance charge=($22.50×12)-($225.75-$25)

Finance charge=$270-$200.75

Finance charge=$69.25

Therefore the Finance charge is: d.) $69.25.

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