Note: Round all answers to the nearest cent when necessary.
Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan.
Purchase
(Cash)
Price
$3,400
Down
Payment
20%
Amount
Financed
$2720
Monthly
Payment
$248.00
Number of
Payments
12
Finance Charge
Total
Deferred
Payment
Price
