Business, 11.11.2020 02:40 mfg1235

Your local T-Spirit store is having a sale on the latest i-razpod cell phone. The store is also offering financing to those who qualify. The new cell phone is on sale for $150.00 with a two year contract. The sales associate informs you that the
closed-end installment loan offered by the store is a 24 month installment plan with monthly payments of $8.44.
Determine the finance charge (interest) of the installment loan.
a $52.00
c. $54.30
b. $52.56
d. $56.10

Answers: 3

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Your local T-Spirit store is having a sale on the latest i-razpod cell phone. The store is also offe...