John decides to purchase a TV using an installment plan for the upcoming Super Bowl. He

John decides to purchase a TV using an installment plan for the upcoming Super Bowl. He needs to put 20% down on the$2,038 TV. The remaining balance he would pay back over the next 3 years. The monthly payments using the installmentplan are $50.49. What is the finance charge? Round your answer to the nearest cent. Do not include a dollar sign in youranswer.