Answer :
The total finance charge was equal to $9300 that is option A is correct.
Whenever a consumer buys a large commodity such as a bike, car or any vehicle, the individual usually pays a certain sum of money while the rest he pays in the form of EMI with monthly or yearly payments. The payment made at the time of purchase is known as the down payment. EMI is also known as Equated Monthly Installment. According to the question, Marmee bought truck for $38000, and the down payment was $600. She paid $590 as monthly EMI. Now the formula for calculating the total finance charge will be
Total finance charge = Months(EMI) - (Cost of truck - Down payment)
Total finance charge = 70($590) - ($38000 - $6000)
Total finance charge = $41300 - $32000
Total finance charge = $9300
Learn more about EMI at:
brainly.com/question/22493968
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