You are going to college in the fall. You have just heard from your roommate and he asks you to bring the stereo system for the dorm room. You find the perfect system for $1750. You have to put 25% down and you can pay the balance in 18 equal installments. The clerk tells you that you will pay a total finance charge of $112. How much is the down payment and what is the total amount financed including the finance charge? a. $437.50; $1424.50 b. $437.50; $1312.50 c. $43.75; $1818.25 d. $43.75; $1706.25

Accepted Solution

B. hope this helps! If you have any questions regarding the answer i gave you please let me know!