If you purchase a fishing boat for 18 monthly payments of $106 and an interest charge of $238, how much is the refund after 10 payments

To calculate the refund after 10 payments for the fishing boat, we first need to determine the total cost of the fishing boat.

The monthly payments are $106 for a total of 18 months. So, the total cost can be found by multiplying the monthly payment by the number of months: 18 * $106 = $1908.

Next, we need to subtract the interest charge of $238 from the total cost: $1908 - $238 = $1670.

Since you are looking for the refund after 10 payments, we need to determine how much you have paid so far. To calculate this, we multiply the monthly payment by the number of payments made: 10 * $106 = $1060.

To find the refund, we subtract the amount paid from the total cost: $1670 - $1060 = $610.

Therefore, the refund after 10 payments for the fishing boat is $610.