Mathematics, 20.06.2020 23:57, seanisom7

A 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.
5.48%
8.43%
18.55%
d. 15.65%
b
C

Answers: 1

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A Sam is paying off his eight-year, $15,360 loan in semiannual installments. The loan has an intere...