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Business, 16.12.2019 08:31 phirejz6402

Sam is paying off his eight-year, $15,360 loan in semiannual installments. the loan has an interest rate of 9.58%, compounded semiannually, and a service charge of $1,294.64. once the loan has been fully paid off, what percentage of the total finance charge will the service charge be? round all dollar values to the nearest cent.

a.
5.48%
b.
8.43%
c.
18.55%
d.
15.65%

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Answers: 3

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Sam is paying off his eight-year, $15,360 loan in semiannual installments. the loan has an interest...
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