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Tim Worker decided to purchase a new DVD player on an installment loan. The DVD player was $295.00. Tim agreed to pay $31.00 per month for 12 months. What is the finance charge in dollars? A. 77.00 B.
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Tim Worker decided to purchase a new DVD player on an installment loan. The DVD player was $295.00. Tim agreed to pay $31.00 per month for 12 months. What is the finance charge in dollars?

A. 77.00
B. 218.00
C. 295.00
D. 372.00

User Wenbert
by
8.5k points

1 Answer

5 votes
Hi there

Total paid
31×12
=372
finance charge
372−295
=77

Hope it helps
User Gmcnaughton
by
8.2k points
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