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26 November, 22:03

Determine the finance charge on a $6,500 loan with an interest rate of 9.5% compounded monthly over 36 months.

a. $27.65

b. $208.21

c. $995.56

d. $7,495.56

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Answers (1)
  1. 26 November, 22:32
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    D. $7,495.56 9.5% x 36 x 6,500
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