October 4, 2015

Homework Help: Math

Posted by Mare on Tuesday, November 23, 2010 at 2:44pm.

Mr. and Mrs Smith have decided to buy new furniture. They have 2 options. The first is to pay cash of $4,200.00, the second is to finance with a 2 year installment loan. They would have to put down 12% with 24 equal payments of $195.00. According to this information, what is the finance charge on the loan ?

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