In order to make some home improvements, a home owner spent $24000. He paid 18% as a down payment and financed the balance of the purchase with a 36-month fixed installment loan with an APR of 4.5% Determine the home owner's total finance charge and monthly payment. a. Total finance charge = $3074.40; Monthly payment = $752.07 b. Total finance charge = $1156.06; Monthly payment = $579.03 c. Total finance charge = $3381.02; Monthly payment = $640.58 d. Total finance charge = $1395.12; Monthly payment = $585.42

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