lilm82
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Ruben wants to be professional photographer and is saving up to buy a new camera priced at $2,900. After searching for the best credit
plan, he chooses an installment plan that requires a 15% down payment and monthly payments of $250 for 12 months.
Ruben will need to pay

for the down payment. He will pay

in finance charges.

Respuesta :

gilbertazavedo72

Answer: Down payment = 435

Finance charge = 535

Step-by-step explanation:

Down payment = 15% of 2900 = 435

Finance charge = {(250x12) +435}- 2900

=

He will pay in finance charges is 535.

We have given that

Down payment = 435

Finance charge = 535

Down payment = 15% of 2900 = 435

What is the finance charge?

A finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees.

Finance charge = {(250x12) +435}- 2900

Finance charge=535

He will pay in finance charges is 535.

To learn more about the finance charge visit:

https://brainly.com/question/12459778

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