Answer:
a) The amount financed is the purchase price minus the down payment, which is:
$15,000 - $3,000 = $12,000
Therefore, the amount financed is $12,000.
b) The total amount of monthly payments is the monthly payment multiplied by the number of payments, which is:
$300 x 48 = $14,400
Therefore, the total amount of monthly payments is $14,400.
c) The finance charge is the total amount of payments minus the amount financed, which is:
$14,400 - $12,000 = $2,400
Therefore, the amount of the finance charge is $2,400.