Calculate the Finance Charge

Short Answer

Calculate the finance charge:
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Sofa } \\\text { purchase } \\\text { price }\end{array} & \text { Down } & \begin{array} { l } \text { Number of } \\\text { monthly } \\\text { payments }\end{array} & \begin{array} { l } \text { Amount of } \\\text { monthly } \\\text { payments }\end{array} \\ & \text { Payment } & \text { payments } \\\hline \$ 1,600 & \$ 400 & 12 & \$ 190 \\\hline\end{array}$$