Question

Tamicca bought a Computer for $1200 and made 12 monthly payments of $115.

What was the finance charge that she paid? Round your answer to the nearest cent.

Answer 1

Tamicca made 12 monthly payments of $115, for a total payment of 12*$115 = $<<12*115=1380>>1380.

She bought a computer for $1200, so the finance charge that she paid is $1380-$1200 = $<<1380-1200=180>>180.

Therefore, the finance charge that Tamicca paid was $180, rounded to the nearest cent.

Explanation: