Ping is going to purchase a truck on installment. His down ...

[future617RT]

Ping is going to purchase a truck on installment. His down payment is 1,300 with 48 payments of 290. The truck is priced at 12,990. What is the finance charge?

Question 2

Saheel has a charge card with a monthly rate of 1.4 on amounts up to 1,000 and 0.9 on amounts over 1,000. Saheel's previous balance was 1,421.51. He made a payment of 175, charged 423.89, and was issued a credit for 14.90. Using the previous balance method, what is his new balance?

[Gabe]

Answer to Question 1

2,230;

Answer to Question 2

1,703.09;

[future617RT]

Thanks for the timely response, appreciate it

[bulacsom]

Great answer, keep it coming