zamorano2319 zamorano2319

08-04-2024
Mathematics

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What is the formula used to determine the finance charge for a loan amount of $41756.82 at an annual percentage rate (APR) of 5.44%?
a) Finance Charge = Principal Amount ÷ Annual Percentage Rate (APR)
b) Finance Charge = Principal Amount × Annual Percentage Rate (APR)
c) Finance Charge = Principal Amount - Annual Percentage Rate (APR)
d) Finance Charge = Principal Amount + Annual Percentage Rate (APR)

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