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Suppose that you took out a loan with a principal of \$24,680. To pay off the principal and the interest, you made quarterly payments of \$1,382 for six years. Furthermore, you paid a service charge of \$396. What was your total finance charge? a. \$396 b. \$8,488 c. \$8,884 d. \$8,292

The solution to the problem is as follows:

\$1382*24 (4 payments per year * 6 years)=\$33,168+\$396=\$33,564 (Total)

\$33,564-\$24,680=\$8,884

Therefore the total finance charge is c.\$8,884.

I hope my answer has come to your help. God bless and have a nice day ahead!

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I hope my answers has come to your help. God bless and have a nice day ahead!

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Suppose that you took out a loan with a principal of \$24,680. To pay off the principal and the interest, you made quarterly payments of \$1,382 for six years. Furthermore, you paid a service charge of \$396. What was your total finance charge? a. \$396 b. \$8,488 c. \$8,884 d. \$8,292

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
Below is the solution:

\$1382*24 (4 payments per year * 6 years)=\$33,168+\$396=\$33,564 (Total)\$33,564-\$24,680=\$8,884

Therefore the total finance charge is c.\$8,884.

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