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12-10-2020
Mathematics

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Chelsea made monthly payments for four years before her $13,440 loan was paid off. The loan had an interest rate of 5.86%, compounded monthly. Chelsea paid $156.60 in service charges. To the nearest tenth, what percentage of the total cost of the loan did her finance charges comprise?

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Vintxge Vintxge

12-10-2020

The answer would be 11.9%

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