Question 1172953
if this is simple interest, the formula is:
i = p * r * t
i is the interest
p is the principal
r is the interest rate per time period
n is the number of time periods.


it looks like the payments are per month, with the number of months = 30.


the interest rate per month would be 13.25% per year / 100 = .1325 per year / 12 = .0110416667 per month.


the formula becomes i = 1700 * .0110416667 * 30 = 563.125.


that's the finance charge.


what is owed is 1700 + that = 2263.125


the monthly charge is that / 30 = 75.4375.


try those numbers.
see how you do.
let me know if that's correct or not.
i'm assuming simple interest formula is what's applied for this problem.


theo