Calculate the Finance Charge

question 26

Short Answer

Calculate the finance charge:
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Sofa } \\\text { purchase } \\\text { price }\end{array} & \text { Down } & \begin{array} { l } \text { Number of } \\\text { monthly } \\\text { payments }\end{array} & \begin{array} { l } \text { Amount of } \\\text { monthly } \\\text { payments }\end{array} \\ & \text { Payment } & \text { payments } \\\hline \$ 1,600 & \$ 400 & 12 & \$ 190 \\\hline\end{array}$$

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Definitions:

Safety Precautions

Measures taken in advance to prevent accidents or harm to people at work, in public places, or during activities.

Stock Clerk

An employee responsible for maintaining the stock levels of products in a retail or warehouse setting, ensuring items are well-organized and available.

Office Supplies

Items and materials used in offices for daily work activities, including pens, paper, and office equipment.

Income Tax

A type of tax that governments impose on income generated by businesses and individuals within their jurisdiction.