Question
John Jones buys a flat screen TV costing $1200. He pays $200 down and finances the balance at 15% add-on interest, to be repaid in 18 monthly installments. Find the finance charge
Answers
Ms. Sue
I = PRT
I = 1,000 * 0.15 * 1.5
I = 1,000 * 0.15 * 1.5