8
QuizMultiple Choice

Borrowing Money

Question 8 • 26-27 Ignite Technical Math-Financial Math - MA2007

Tamora just made the last of her monthly payments on her loan. She had been making these payments for the past nine years. The loan had a principal of $10,675 and an interest rate of 4.75%, compounded monthly. In addition, Tamora paid $939.25 in service charges. What was Tamora’s total finance charge? Round all dollar values to the nearest cent.a.$939.25b.$11,614.25c.$3,403.53d.$2,464.28

Answer
A
A
B
B
C
C
D
D
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