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Annette [7]
3 years ago
9

jon 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

. What is the finance charge in dollars?
Mathematics
2 answers:
gtnhenbr [62]3 years ago
6 0

Answer:

the finance charge in dollars= 50

Step-by-step explanation:

jon 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

sweet [91]3 years ago
3 0
It seems that $50 is the finance charge 
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