Find the fincance charge or the monthly payment

Reference no: EM13207209

You take out a consumer loan at your credit union for new insulated windows for your house. The total installed cost is $9,000, of which you pay 10% down. The balance is to be paid in 60 equal monthly payments, with a finance charge equal to 8.6% add-on interest on the outstanding balance. Find the fincance charge or the monthly payment.

Reference no: EM13207209

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