Macon steinburg purchased a motor scooter with an installment loan that has an apr of 16 percent. The motor scooter sells for $1,687. The Store financing requires a 20% down payment and 30 monthly payments. What is the finance charge?

Figure 8.2. Use this table with the question(s) below, as needed. MONTHLY PAYMENT ON A $100 LOAN Annual Percentage Rate Term in Months 15.00% 16.00% 17.00% 18.00% 6 17.40 17.45 17.50 17.55 12 9.03 9.07 9.12 9.17 18 6.24 6.29 6.33 6.38 24 4.85 4.90 4.94 4.99 30 4.02 4.07 4.16 4.11 3.47 36 3.52 3.57 2.62 3.07 42 3.12 3.18 3.23 2.78 48 2.83 2.89 2.94 2.56 54 2.61 2.66 2.72