Answer:
Step-by-step explanation:
We know that
The cash cost is $4400.
She pays 10% down
The balance paid in 6
Monthly payment is $676
First , let's find the amount financed:
[tex]A=4400.\frac{90}{100} =3960[/tex]
The number of payments per year (n) are 6.
The time in years is half a year.(6 months)
The installment payment is $676.
The total amount paid is
[tex]676.6=4056[/tex]
Then, we subtract to obtain the finance charge
[tex]4056-3960=96[/tex]
Hence , the answer to (a) is $96, that's the finance charge
b) I need the table for doing that one
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