Answer: 50
Step-by-step explanation:
Jom Hall purchased a new CD player on an installment loan. The CD player was $250.00.
He agreed to pay $25 a month for 12 months.
Total amount he agreed to pay for 12 months
= 25 * 12= 300
The cost of CD player = 250
Amount agree to pay = 300
So finance charge = Amount agreed to pay - cost of CD player
= 300 - 250 = 50
