The finance charge payed by Jamal is $28.43.
A word problem is a verbal description of a problem situation. It consists of few sentences describing a 'real-life' scenario where a problem needs to be solved by way of a mathematical calculation.
For the given situation,
Amount borrowed by Jamal for nine months = $316
His monthly payment = $38.27
Total amount payed by Jamal for nine months = [tex]9(38.27)[/tex]
⇒ [tex]\$344.43[/tex]
Thus his finance charge = [tex]344.43-316[/tex]
⇒ [tex]\$28.43[/tex]
Hence we can conclude that the finance charge payed by Jamal is $28.43.
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