Find the Finance Charge and Total Installment Cost of the Loan

question 116

Multiple Choice

Find the finance charge and total installment cost of the loan. Round to the nearest cent.
-Amount financed: $165
Down payment: $45
Cash price: $210
Number of payments: 6
Amount of payment: $28.59

• A)$12.54; $261.54
• B)$6.54; $216.54
• C)$38.46; $216.54
• D)$171.54; $261.54

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Definitions:

Diploid

An organism or cell having two sets of chromosomes, typically one set from each parent.

Crossing-Over

A process occurring during meiosis where two chromosomes pair up and exchange segments of their genetic material to form recombinant chromosomes, which increases genetic diversity.

Genes

Segments of DNA located on chromosomes, responsible for the inheritance of specific traits from parents to offspring.

Siblings

Individuals that share one or both biological parents.