SAT, 07.11.2021 14:00 UnnKoown

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. A. 5. 48% b. 8. 43% c. 18. 55% d. 15. 65%.

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

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