Answered: Al Ree bought a new delivery truck for…

Al Ree bought a new delivery truck for $18,000. Al put a down payment of $4,000 and paid $270 monthly for 60 months. The total finance charge: O a. $4,000 O b. $2,200 O c. $2,020 O d. $2,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Al Ree bought a new delivery truck for $18,000. Al put a down payment of $4,000 and paid $270 monthly for 60 months. The total
finance charge:
O a. $4,000
O b. $2,200
Oc. $2,020
O d. $2,000
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