The Great Outdoors is having a sale on their road bikes. The store is also offering financing to those who qualify. The road
bike that you are interested in is a Bianrekmondiant that is on sale for $2.199. The sales associate informs you that the closed-
end installment loan offered by the store is a 36 month installment plan with monthly payments of $82.83. Determine the
finance charge (interest) of the installment loan.
a $780.32
c. $782.88
b. $790.10
d. $728.23
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