The Finance Charge on a Loan for a $950 TV

question 33

Multiple Choice

The finance charge on a loan for a $950 TV was $171 for a 12-month note with no down payment. Find the finance charge refund if the loan was paid in full at the end of 4 months.

• A) $438.46
• B) $78.92
• C) $101.75
• D) $21.92

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