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Sammie Whitehouse obtained an installment loan of $ 2 , 7 0 0 to purchase a used boat. The annual percentage rate is 1 2

Sammie Whitehouse obtained an installment loan of $2,700 to purchase a used boat. The annual percentage rate is 12%. She must repay the loan in 48 months. What is the finance charge?Step 1: find the monthly paymentStep 2: fine the total amount repaidStep 3: find the finance charge

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