A loan of $900 will be repaid in 36 installment payments of $30.22 each. What the finance charge for the loan?

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16-03-2014
Mathematics

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A loan of $900 will be repaid in 36 installment payments of $30.22 each. What the finance charge for the loan?

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Beanie Beanie · Answer 1 · 2014-03-16T19:30:51-04:00

Beanie Beanie

16-03-2014

First you need to multiply 36 *$30.22=$1087.92
This gives you the total amount paid

Then subtract 1087.92-900=187.92
This gives you the amount of money you paid in finance charges.

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