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16 April, 03:43

Gabrielle daily borrows $1,000 at a 6 percent add-on rate for one year. what is the finance charge? answers

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  1. 16 April, 05:42
    0
    P - principle of the loan

    FC - finance change or total interest

    N - number of months the loan is force

    FC = ($1,000 x. 06 x 1)

    FC = $60

    Finance charge is $60.
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