Answer:
808
Step-by-step explanation:
Plan
You make 48 payments of 158.50. That gives you the total of what you have paid back.
Equation
Total payment = months * monthly payments
Solution
Total Payment = 48 * 158.50
Total Payment = 7608
Cost of the loan
Finance charge = amount paid - amount loaned
Finance charge = ?
amount paid = 7608
amount loaned = 6800
Finance charge = 7608 - 6800
Answer: Finance charge = 808
