Find the finance charge in dollars for the following problem. Choose the right answer. Jon Hall purchased a new CD player on an

Question

3 years ago

3

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?

2 answers:

Vinvika [58] · Answer 1 · 2022-07-14T04:57:19+03:00

8 0

The answer would be $50.

vladimir2022 [97] · Answer 2 · 2022-07-14T06:05:21+03:00

4 0

Answer:

$50 dollars\\$

Step-by-step explanation:

The amount paid per month $= 12 dollars\\$

The total amount paid at the end of 12 months

$= $ 25 * 12\\= 300 dollars\\$

The finance charged is the amount over and above the cost of CD player

$= 300 - 250\\= 50 dollars\\$