A refrigerator costs $1600 cash. It may be purchased for $100 down and 24 easy monthly payments of $80 each. (a) What are the finance charges (total interest)? (b) What is the total cost of this...

A refrigerator costs $1600 cash. It may be purchased for $100 down and 24 easy monthly payments of $80 each.

(a) What are the finance charges (total interest)?

(b) What is the total cost of this purchase if you finance the refrigerator?

(c) What simple interest rate is being charged?