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3 years ago

15

ken and Marcy plan to have their kitchen remodeled at a cost of $6,000. the carpenter suggests they pay $600 down,followed by 18

monthly payments of $325. what is the finance charge for this payment schedule

1 answer:

Amiraneli [1.4K]3 years ago

7 0

6000 - 600 = 5400
18 x $325 = 5850
Difference is $450
325 x 7.692% = 450
Finance charge is 7.692%

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