Posted by **Kendra** on Tuesday, January 26, 2010 at 5:56pm.

Sam received a $290 discount loan to purchase a stereo. The loan was offered at 16% for 90 days. Find the interest in dollars and the proceeds for the following problem.

The interest is $12.60, $11.60, or $10.60 ?

The proceeds are $279.40, $278.40, or $277.40 ?

Curtis purchased a mountain kike for $650.00 with 75% down. He will make 12 payments of $24.38 each. What is the total amount paid (including down payment) and finance charge in dollars?

The total paid (including down payment) is $781.06, $751.62 or $749.62

The finance charge in dollars is $131.06, $121.62, or $111.62

Thanks much

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