Question
Anny had been cutting hair for years and decided she wanted to open up a salon of her own. In order to do so, she
Anny had been cutting hair for years and decided she wanted to open up a salon of her own. In order to do so, she knew she
would need 3 new chairs at $1575 each; 3 mirrors at $199 each; 3 tables at $425 each; and the list went on - hairdryers, sinks, a
cash register, etc. By the time she was finished, Anny's supplies totaled $7788.25, including sales tax. The supplier offered in-house
financing of 24 monthly payments at $332.44 per month, with a 10% down payment.
If Anny's account instead used the unpaid balance method, calculate the finance charge and the new balance for the month of
April.
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