Joshuadang8899 Joshuadang8899
  • 01-05-2018
  • Business
contestada

Gabrielle daily borrows $1,000 at a 6 percent add-on rate for one year.what is the finance charge?answers

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MrsTriplet MrsTriplet
  • 10-05-2018
P - principle of the loan
FC - finance change or total interest 
N - number of months the loan is force

FC = ($1,000 x .06 x 1) 
FC = $60

Finance charge is $60.
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