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Tim Worker decided to purchase a new DVD player on an installment loan. The DVD player was $365.00. Tim agreed to pay $36.00 per month for 12 months. What is the finance charge in dollars?
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Tim Worker decided to purchase a new DVD player on an installment loan. The DVD player was $365.00. Tim agreed to pay $36.00 per month for 12 months. What is the finance charge in dollars?

User JoshGough
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2 Answers

2 votes
I think the answer is $432.00
User Bomin
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4 votes
$36 x 12 = $432 total payment

$432 - $365 = $67 finance charge

User Illuminati
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8.0k points
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