Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

تمرين 20

Olivia Fast found a timeshare offer entitling her to 3 weeks per year in a Rocky Mountain townhouse. She had the option of paying $7,600 in cash or financing the timeshare with a 2-year installment loan. The loan required a 20% down payment and equal monthly payments of $283.73.
a. What is the finance charge on Olivia's loan
b. What is the total deferred payment price of the timeshare contract