SOLUTION: The cost of a new refrigerator is $895. You make a down payment of 150 and pay the rest with an installment loan you will have to pay $50 per month for 18 months What is the amoun

Question 1145740: The cost of a new refrigerator is $895. You make a down payment of 150 and pay the rest with an installment loan you will have to pay $50 per month for 18 months
What is the amount financed?
Find the total installment price.
Find the finance charge.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
the refrigerator costs 895.
you make a down payment of 150.
895 - 150 = 745
you finance 745 dollars.
you pay 50 dollars a month for 18 months.
the total installment charge is 18 * 50 = 900 dollars.
the total finance charge is 900 - 745 = 155 dollars.

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