The answer of If there is a total of 104 weekly instalments and a third deposit, find the interest charged
A. 237.55
B. 337
C. 443
D. 334
Cash price = $3695
Deposit =1/3 of $3695
= $1231.67
Loan amount = $3695.00 − $1231.67
= $2463.33
Total cost of loan = $25.97 × 104
= $2700.88
Interest charged = total amount − loan
I = A − P
= 2700.88 − 2463.33
= 237.55
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