Solve the Problem. -An Item Is Purchased for $2000 with a Down Payment

Multiple Choice

Solve the problem.
-An item is purchased for $2000 with a down payment of $500. There is a finance charge of $100. Find the monthly payment if 24 payments are made.

A) $87.50
B) $62.50
C) $66.67
D) None of the above is correct.