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Jon Hall purchased a new CD player on an installment loan. The CD player was $250.00. He agreed to pay $25 a month for 12 months. What is the finance charge in dollars?

User AnaMaria
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2 Answers

5 votes

Answer: 50

Explanation:

Jom Hall purchased a new CD player on an installment loan. The CD player was $250.00.

He agreed to pay $25 a month for 12 months.

Total amount he agreed to pay for 12 months

= 25 * 12= 300

The cost of CD player = 250

Amount agree to pay = 300

So finance charge = Amount agreed to pay - cost of CD player

= 300 - 250 = 50

User Jeffrey Theobald
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7.8k points
6 votes
6250
250.00×25 =6250 so you times it
User Maytal
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