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 $
i need help finding the finance charge.

Question

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 $ 
i need help finding the finance charge.

anonymous · Answer

total cost=$150*12month=$1800
original cost of the mop is $1500
finance charge=1800-1500=300

anonymous · Answer

Thanks you! @eazykang