Tom Brown decided to purchase a new bike on an installment loan. The bike was $300.00. He agreed to pay $30 a month for 12 months. What is the finance charge in dollars?
The finance charge is
Step-by-step explanation: For every 5 dollars Tom loans he has to pay 1 dollar plus the amount he loaned. If 30 times 12 is 360 and the original cost is 300 then he payed 60 dollars for the finance charge.
