Using proportions, it is found that the finance charge was of $408.
What is a proportion?
A proportion is a fraction of a total amount.
In this problem, monthly payments of $158.50 were made for 48 months, hence the total amount paid was of:
48 x $158.5 = $7,608.
The finance charge is the price financed subtracted by the fixed price, hence:
$7,608 - $7,200 = $408.
The finance charge was of $408.
More can be learned about proportions at https://brainly.com/question/24372153
