Question

Tim Worker decided to purchase a new DVD player on an installment loan. The DVD player was $295.00. Tim agreed to pay $31.00 per month for 12 months. What is the finance charge in dollars?
A. 77.00
B. 218.00
C. 295.00
D. 372.00

Answer 1

Hi there

Total paid
31×12
=372
finance charge
372−295
=77

Hope it helps