You buy items costing $ 2300 and finance the cost with a simple interest fixed an installment loan for 24 months at 5% simple interest per year.

a. What is the finance charge?

b. What is your monthly payment?

Be sure that you show all of your work to reach your answer. Each step must be on a separate line. Your method to reach your answer must be clear and include explanations. If a formula is relevant to answering your question first set out the general formula second show the formula with your numbers substituted then calculate Be sure to only round at the last step for your final answer