Find the Finance Charge and Total Installment Cost of the Loan

question 106

Multiple Choice

Find the finance charge and total installment cost of the loan. Round to the nearest cent.
-Amount financed: $240.00
Down payment: $80.00
Cash price: $320.00
Number of payments: 12
Amount of payment: $29.11

• A)$80.00; $319.75
• B)$120.00; $240.00
• C)$240.00; $429.32
• D)$109.32; $429.32

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