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Economics - Financial Markets
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OpenStudy (anonymous):
Emma Weber purchased a bedroom set with an installment loan that has an APR of 12%. The bedroom set sells for $2,650. The store financing requires a 15% down payment and 42 monthly payments. What is the finance charge?
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OpenStudy (anonymous):
I don't know much about finance terminology... so can you tell me what the question is asking for here? Down payment: 397.5 Payment every month 53.631
OpenStudy (anonymous):
So how would this problem be set up?
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