Ed Sloan bought a new Explorer for $22,000. He put down $7,000 and paid $290 for 60 months. The total finance charge to Ed is:
A) $15,000
B) $17,400
C) $2,400
D) $4,200
E) None of these
Correct Answer:
Verified
Q25: Match the following terms with their definitions.
-Finance
Q26: Jen purchased a condo in Naples, Florida,
Q27: Match the following terms with their definitions.
-Open-end
Q28: Justin Chan bought a Scion car for
Q29: Open credit in a revolving charge plan
Q31: Given a mortgage of $48,000 for 15
Q32: Match the following terms with their definitions.
-Revolving
Q33: Given the following:
Q34: Match the following terms with their definitions.
-Down
Q35: The APR represents the:
A)Stated rate of interest
B)True
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