Solved

Cedric Purchased a New Refrigerator and Stove at Home Depot

Question 32

Essay

Cedric purchased a new refrigerator and stove at Home Depot for $3,729 on a deferred payment plan with no down payment and no payment at all for six months.If the entire $3,729 is paid in full before three months is up,there is no interest.If it is not paid in full within the six months,there is a finance charge with an APR of 25.4% applied each month going back to the first month.If Cedric makes the full payment a week after the six months expired,what is the finance charge?

Correct Answer:

verifed

Verified

Find the finance charge on the...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents