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From Mathematics: General-Mathematics
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Due on Nov. 19, 2009
Asked on Oct 16, 2009 at 2:04:05PM

Q:

jeana wants to buy a new boat for her family? she has 2 payment options. The first option is to pay a cashpayment of $7,200. The second option is to finance the boat with a three-year installment loan. The lona requires a 10% down payment and 36 equal monghtly payments of $205.00/ Accoridng to this information, what would be the finance charge ont eh loan. Show all your work??

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sum123ing
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Posted on Oct 16, 2009 at 2:34:08PM

A:
Preview: ... ce charge is the extra cost that you have to incur for taking loan or credit So, in this case finance charge wou ...

The full tutorial is about 106 words long .

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velcro
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$1.80 finance charge on the loan

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Posted on Oct 16, 2009 at 2:39:47PM

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Preview: ... yment at the end of 36 months = 36 * 205 = 7,380 So, the gross payment is 720 + ...

The full tutorial is about 74 words long plus attachments.

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