Question

Ruben wants to be professional photographer and is saving up to buy a new camera priced at $2,900. After searching for the best credit
plan, he chooses an installment plan that requires a 15% down payment and monthly payments of $250 for 12 months.
Ruben will need to pay

for the down payment. He will pay

in finance charges.

Answer 1

Answer: Down payment = 435

Finance charge = 535

Step-by-step explanation:

Down payment = 15% of 2900 = 435

Finance charge = {(250x12) +435}- 2900

=