A local diner purchased a jukebox for 9400. The business makes a down payment of 1000 and agrees to pay 36 payments of 275 per month find the finance charge.

$10,900

$3,600

$1, 500

$8,400

Question

Mathematics

Aubrey Collins

15 January, 03:17

A local diner purchased a jukebox for 9400. The business makes a down payment of 1000 and agrees to pay 36 payments of 275 per month find the finance charge.

$10,900

$3,600

$1, 500

$8,400

+3

Answers (1)

Know the Answer?

German Barnes · Answer 1

Option (3). $1500

Step-by-step explanation:

Cost price of the jukebox = $9400

Down payment made by the diner = $1000

Diner agreed to pay the rest amount by $275 per month for 36 months

Total amount to be paid by the diner = Down payment + monthly payments

= 1000 + 275*36

= 1000 + 9900

= $10900

Finance charge = 10900 - 9400

= $1500

Therefore, option (3). 1500 will be the answer.

A local diner purchased a jukebox for 9400. The business makes a down payment of 1000 and agrees to pay 36 payments of 275 per month find the finance charge.$10,900$3,600$1, 500$8,400

A local diner purchased a jukebox for 9400. The business makes a down payment of 1000 and agrees to pay 36 payments of 275 per month find the finance charge.

$10,900

$3,600

$1, 500

$8,400