Question

Joshua Bennett purchased a television for $245.95 with 40.25% down. He will make 6 payments of $25.83 each. What is the total amount paid (will include down payment) and finance charge in dollars?
The total paid (including down payment) is $.

The finance charge in dollars is $.

Answer 1

Answer:

The total paid will be $253.97

The finance charge will be $8.02

Step-by-step explanation:

a) Joshua purchased the television with 40.25% down, the original price was $245.95.

Therefore, the price he paid was (245.95)(.4025) = 98.99

Then he will make 6 payments of $25.83 each = (25.83)(6) = 154.98

The total paid will be 98.99 + 154.98 =253.97

b)T he finance charge is what he ends up paying minus the original price:

253.97 - 245.95 = 8.02

Answer 2

(245.95×0.4025)+(6×25.83)=253.97

253.97-245.95=8.02