Question

12) Becky bought a digital camera on the installment plan. The purchase price was $859.95. She paid $150 down

and made 12 monthly payments of $65.25. Find the finance charge she paid.
O a.) $71.45
Ob.) $75.35
Oc.) $74.50
Od.) $73.05

Answer 1

Let the finance charge be X
Therefore;

$65.25(12) + $150 + X = $859.95
$783 + $150 + X = $859.95
$933 + X = $859.95
X = $933 - $859.95
X =73.05
X =d