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Brian Singer financed a $3,500 mountain bike with an 8%

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Brian Singer financed a $3,500 mountain bike with an 8% add-on interest installment loan for 24 months. The loan required a 10% down payment.
a. What is the amount of the finance charge on the loan?
b. How much are Brian’s monthly payments?
c. What annual percentage rate is being charged on the loan?
d. If Brian decides to pay off the loan after 16 months, what is his loan payoff?

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Brian Singer financed a $3,500 mountain bike with an 8%

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