Danielle Davidson wants to buy a beautiful ring from Thompson Jewelers. The selling price of the ring is $3,800.  Thompson Jewelers will finance the ring if Danielle will put down 20% of the cost.  The terms of the loan will be 12% for 24 months.

1) What is the down payment?

2) What is the amount financed?

3) What is the monthly payment?

4) What is the total finance charge?

Answer rating: 100% (QA)

1 The down payment is 20 of the cost of the ring Down payment 20 x 3800 760 2 The amount financ... View the full answer