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Find the finance charge in dollars for the following problem. Choose the right answer. Jon Hall purchased a new CD player on an installment loan. The CD player was $250.00. He agreed to pay $25 a month for 12 months. What is the finance charge in dollars?

Respuesta :

the answer would be $50. 

Answer:

[tex]50 dollars\\[/tex]

Step-by-step explanation:

The amount paid per month [tex]= 12 dollars\\[/tex]

The total amount paid at the end of 12 months

[tex]= $ 25 * 12\\= 300 dollars\\[/tex]

The finance charged is the amount over and above the cost of CD player

[tex]= 300 - 250\\= 50 dollars\\[/tex]

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