Question

A Hepplewhite sofa costs ​$3760 in cash. Jaquanna Wilson will purchase the sofa in 24 monthly installment payments. A ​13% per year finance charge will be assessed on the amount financed. Find the finance​ charge, the installment​ price, and the monthly payment.

Answer 1

finance charge is $480.80

instalment payment is $ 4248.80

monthly payment is around $177.03