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    Exam 13: Personal Financial Management
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    Solve the Problem. -An Item Is Purchased for $2500 with a Down Payment
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Solve the Problem. -An Item Is Purchased for $2500 with a Down Payment

Question 103

Question 103

Multiple Choice

Solve the problem.
-An item is purchased for $2500 with a down payment of $500. There is a finance charge of $150. Find the monthly payment if 20 payments are made.


A) $132.50
B) $107.50
C) $100.00
D) None of the above is correct.

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