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Alex purchased a motorbike that costs $3,500. He'll pay for the motorbike through an installment plan. The installment plan requires him to
make a 10% down payment and pay the remaining amount in 12 monthly installments of $276 each. How much will Alex pay in finance charges?
ОА.
$162
ОВ.
$188
O c.
$512
OD.
$538
O E.
$552​

Respuesta :

AwhKokichi

Answer:

Option A.) $162

dubeyshailja64

Alex pays  $162 in finance charges.

What is Installment Plan ?

An installment plan is a way of buying goods gradually. You make regular payments to the seller until, after some time, you have paid the full price and the goods belong to you.

According to the question

The cost Price of the motor bike is $3,500.

10% down payment = $350

The amount that needs to be financed = $3500-350=$3150

Time Period = 12 months

Each installment = $276

Total amount paid = $276* 12 = $3312

Therefore Alex pays $3312-3150 = $162 in finance charges.

To know more about Installment Plan

https://brainly.com/question/11598067

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