Mathematics, 21.11.2019 15:31 khan2491
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%
Answers: 1
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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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