Average Total

[Guest]

Tot Chrgs Tot Pym
$115.00 $66.72
$115.00 $74.26

I am told the average cost is $29.29. How?

[HallsofIvy]

Frankly this makes no sense. You have, I think (the lack of spaces makes it hard read, a "total charge" of 115.00 and "total payment" of 66.72 then another "total charge" or 115.00 and "total payment" of 74.26. You titled this "average total" but then ask about a "cost"!

My best guess is that you have a single charge of 115.00 and made two payments or 66.72 and 74.26 so total payment of 140.98. That is 140.98- 115.00= 25.98. Perhaps that is your interest or "cost of financing".