Question

20. Beatrice bought a new car for $28,000. She put down $5,000 and paid $550 for 60 months. What's the total finance charge to Beatrice?

A. $12,000
B. $10,000
C. $16,000
D. $23,000

Answer 1

Answer: B. $10,000

Explanation:

$550x60+5,000=38,000

Subtract $38,000 by purchase price.: $28,000.

total is $10,000.