Question

Determine the finance charge on an $8,000 loan with a monthly payment of $162.80 for 60 months

Answer 1

Answer:

C) $1,768.00

Explanation:

With a monthly payment of $162.80 for 60 months. I multiplied 162.8 by 60, my answer was $9,768. $9,768 minus $1,768 is equal to $8,000. So, the finance charge for the $8,000 loan is $1,768.

Answer 2

Answer:

C

Step-by-step explanation:

EDGE 2021