Question

3. Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months. Given the loan required a 10% down payment, determine the following: The amount of the finance charge? The amount of the finance charge rebate if the loan were to be paid after the 10th payment?

Answer 1

multiply it by .12 then it says for 12 months, multiply it by 12 then

Explanation: