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19 April, 12:00

Choose the correct finance charge in dollars for the following problem.

Tommy Hayden decided to purchase a new moped on an installment loan. The moped was $1,500.00. He agreed to pay $150 a month for 12 months. What is the finance charge in dollars?

The finance charge is $

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  1. 19 April, 14:01
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    The total after the 12 months will be $1800, so the finance charge is $300
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