The finance charge for this payment schedule is $450 if Ken and Marcy plan to have their kitchen remodeled at a cost of $6,000.
What are monthly expenses?
It is defined as the expenses incurred by a single entity on a monthly basis, it consists of basic utilities, food, etc.
We have;
Ken and Marcy plan to have their kitchen remodeled at a cost of $6,000.
The carpenter suggests they pay $600 down, followed by 18 monthly payments of $325.
The finance charge = 600 + 325×18 - 6000
= 600 + 5850 - 6000
= 6450 - 6000
= $450
Thus, the finance charge for this payment schedule is $450 if Ken and Marcy plan to have their kitchen remodeled at a cost of $6,000.
Learn more about the monthly expenses here:
brainly.com/question/26383826
#SPJ2
