a) Down payment = $1039.50
b) Amount financed = $4158
c) Monthly payment = $121.73
d) Total finance charge = $5112.66
Step-by-step explanation:
Area of rectangle = width × length
⇒ area of room = 15 × 22 = 330 ft²
Given:
cost of flooring = $15.75 per ft²⇒ Total cost of flooring = area × cost = 330 × 15.75 = $5197.50
a) Down payment = 20% of $5197.50
= 0.2 × 5197.50
= $1039.50
b) Amount financed = total cost - down payment
= 5197.50 - 1039.50
= $4158
c) Monthly payment = = $121.73
d) Total finance charge = monthly payment × number of months
= 121.73 × 42
= $5112.66