Ursula took out an unsubsidized Stafford loan to help pay for her first of her four years at college. The loan had a principal o

Question

3 years ago

8

Ursula took out an unsubsidized Stafford loan to help pay for her first of her four years at college. The loan had a principal o

f $6,400, an interest rate of 6.9% compounded monthly. After college, Ursula started making monthly payments over a 10 year period on her loan. What percentage of the total cost of the loan is the finance charge?
a.
45.25%
b.
27.91%
c.
43.50%
d.
82.66%

Mathematics

2 answers:

Leokris [45] · Answer 1 · 2022-02-23T05:02:24+03:00

Leokris [45]3 years ago

6 0

Answer:

a.

45.25%

Step-by-step explanation:

goblinko [34] · Answer 2 · 2022-02-23T03:51:52+03:00

goblinko [34]3 years ago

3 0

The answer to the Ursula question is a - 45.25