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15 October, 06:12

You borrow $24,500 to buy a car. Your monthly payment on the 5-year loan is $496.77. What is your total finance charge?

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  1. 15 October, 06:56
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    60 payments of $496.77 add to 29,806.20, so the finance charges amount to

    ... $29806.20 - 24500.00 = $5,306.20
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