posted by Tracy .
Can someone please check over my answers? I'm not sure about them, especially part c.
A small boat can be bought for $3,000 cash or on the installment plan by paying $300 down and $108 a month for 30 months.
a) What is the installment price of the boat? $3,540
b) What is the finance charge? $540
c) What is the amount financed? $3,300
d) What is the finance charge per $100 of the amount financed? $16.36