Finance charge of $2.50 per $100 for 3 payments.
Is there a question here?
To calculate the finance charge for 3 payments with a rate of $2.50 per $100, we need to know the total amount of the payments.
Here's how you can calculate it:
1. Determine the total amount of the payments. Let's say the amount of each payment is $100. Since there are 3 payments, the total amount will be $100 x 3 = $300.
2. Calculate the finance charge. The rate is $2.50 per $100, so we need to determine how many times $100 goes into the total amount. In this case, $100 goes into $300 three times.
3. Multiply the rate ($2.50) by the number of times $100 goes into the total amount (3 times). $2.50 x 3 = $7.50.
Therefore, the finance charge for 3 payments, with a rate of $2.50 per $100, would be $7.50.