The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $ 1 , 899 . The salesperson informs that if Belinda qualifies for an installment loan then 10 % down payment will be paid now, monthly payment of $ 88.35 per month for 24 months.
The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $ 1 , 899 . The salesperson informs that if Belinda qualifies for an installment loan then 10 % down payment will be paid now, monthly payment of $ 88.35 per month for 24 months.
Solution Summary: The author calculates the finance charge if Belinda Raven is interested in buying a solar energy system from Sun-Catches Inc.
To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.
(b)
To determine
To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.
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