A deposit of 15% must be paid on a stove cost 78950 and then 24 installments of 350 each. How much interest is charged in total?
The deposit amount is:
0.15 * 78950 = 11842.50
The total cost of the stove is:
78950 + 11842.50 = 90792.50
The total amount paid over the 24 installments is:
24 * 350 = 8400
The total amount paid for the stove is:
11842.50 + 8400 = 20242.50
Therefore, the amount of interest charged is:
90792.50 - 20242.50 = 70550
So, the total interest charged is 70550.