Answer:
Jean paid $2,286 for the snow thrower, with a finance charge of $306.
Step-by-step explanation:
Given that Jean bought a $ 1,980 snow thrower through an initial payment of 10% of the initial value, and 18 monthly payments of $ 116, to determine the final price paid by Jean, the following calculation is required:
(1,980 x 0.1) + (18 x 116) = X
198 + 2,088 = X
2,286 = X
Therefore, the final price paid for Jean was $ 2,286.
In turn, the finance charge arises from the difference between the final price and the list price, that is:
2,286 - 1,980 = X
306 = X
Thus, the finance charge is $ 306.
