Peg Gasperoni bought a $50,000 life insurance policy for $180 per year. Ryan Life Insurance Company sent her the following billing instructions along with a premium plan example:

"Your insurance premium notice will be mailed to you in a few days. You may pay the entire premium in full without a finance charge or you may pay the premium in installments after a down payment and the balance in monthly installments of $45. The finance charge will be added to the unpaid balance. The finance charge is based on an annual percentage rate of 15%."

If the total policy premium is:	And you put down:	The balance subject to finance will be:	The total number of monthly installments ($30 minimum) will be:	The monthly installment before adding the finance charge will be:	The total finance charge for all installments will be:	The total deferred payment price will be:
$180	$45.00	$135.00	3	$45.00	$3.66	$183.66
$280	$65.00	$215.00	5	$45.00	$7.94	$287.94
$380	$90.00	$290.00	7	$45.00	$14.49	$394.39