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Find the finance charge per $ 1 0 0 for the loan described below. Loan, $ 3 , 0 0 0 ; finance charge, $

Find the finance charge per $

100

for the loan described below.

Loan, $

3, 000

; finance charge, $

720

The finance charge is $ per $

100 .

(

Round to the nearest cent as needed.

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