Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6. 5%. Using the amortization table provided, what will be his total finance charge over the course of his loan?.

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05-12-2022
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Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6. 5%. Using the amortization table provided, what will be his total finance charge over the course of his loan?.

Sagot :

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Tutorconsortium410idn Tutorconsortium410idn · Answer 1 · 2022-12-07T13:51:43-05:00

The total finance charge over the course of his loan is $2071.20 if Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6. 5%.

Finance is what?

Finance is the process of obtaining funds or capital for any kind of expenditure. It is the process of allocating different financial resources, such as credit, loans, and invested capital, to the areas of the economy that may most benefit from them.

Does one want to work in finance?

The good compensation is one thing that makes financial jobs so tempting. The median annual wage for all business and financial occupations in May 2021 was $76,570, according to the Bureau of Labor Statistics. That is significantly more than the $45,760 average yearly salary for all occupations.

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Sagot :

Finance is what?

Does one want to work in finance?

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