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Spencer Furness purchased kitchen appliances for $2,419. He makes a down payment of $520 and agrees to 17 monthly payments of $115.36 per month. Find the total finance charge. Question 26 options: $30.59 $62.12 $60.49 $20.9

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sqdancefan

Answer:

  $62.12

Explanation:

The total amount that Furness pays is ...

  $520 + 17 × $115.36 = $2481.12

This exceeds the nominal cost of the appliances by ...

  $2481.12 -2419 = $62.12

The total finance charge is $62.12.

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