Question

I'm trying to find the finance charge ? that has to do with your bank a bank statement

Answer 1

If we hace to do 12 payments of 22.50 we get that the total amount we should pay is

`12\cdot22.5+25=295`

if the purchase price is 225.75, the finance charge is

`295-225.75=69.25`

So the finance charge is $69.25