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QUESTION
Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months. Given the loan required a 10% down payment,...
Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months. Given the loan required a 10% down payment, determine the following:
The amount of the finance charge?
The amount of the finance charge rebate if the loan were to be paid after the 10th payment?
