arwin has a capital of $ 7100.00 which he invests for 3 years at 7.6 % p. a. a)How much will he receive come maturity time if the interest is compounded annually? Round to nearest 100th. b)How much will he received come maturity time if the interest is compounded semi-annually?  Round to nearest 100th . c)How much will he receive come maturity time if the interest is compounded quarterly? Round to nearest 100th .

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.