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July 4, 2015

Homework Help: Math

Posted by Anonymous on Monday, November 19, 2007 at 6:57pm.

please help me I am not really sure about this please check answer thanks :)

Mary has decided to purchase furniture. She has 2 choices she can pay the full amount of $4,200.The other choice is to finance the furniture for two years with an installment loan. The loan requires a 12% down payment and 24 equal monthly payments of $195 .What would be Mary's finance charge of her loan ?

My answer is $504.00
that doesn't seem right how do you figure it out thanks again :)

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