Laura and Dwayne Knight purchased

loan of $3,500 to have some storm-

a new riding lawn mower for $7,500.

damaged trees in his yard removed

They agreed to make a 25% down

The APR is 12%, and the loan is to

payment and to finance the remainder

be repaid in 30 months. What is the

with 12 monthly payments. The APR is 9%. What is the finance charge?

 

Answer rating: 100% (QA)

To calculate the finance charge for Dwaynes loan we can use the formula for calculating the finance ... View the full answer