15. Sarah is taking out a $15,300 four-year new-car loan with an APR of 5.15%. What is the finance charge for this loan? Round to the nearest hundred dollars. A. $1,700 B. $3,200 C. $6,600 D. $3,100
15. Sarah is taking out a $15,300 four-year new-car loan with an APR of 5.15%. What is the finance charge for this loan? Round to the nearest hundred dollars. A. $1,700 B. $3,200 C. $6,600 D. $3,100
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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15. Sarah is taking out a $15,300 four-year new-car loan with an APR of 5.15%.
What is the finance charge for this loan? Round to the nearest hundred
dollars.
A. $1,700
B. $3,200
C. $6,600
D. $3,100
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