Determine the finance charge on an $8,000 loan with a monthly payment of $162.80 for 60 months.

Multiply the monthly payment by the 60 months: $162.80 × 60 = $9,768 in total payments. Subtract the $8,000 loan amount: $9,768 − $8,000 = $1,768, so the finance charge is $1,768.00 (choice C).

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