Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months. Determine the finance charge on Rachel's loan if she takes all 36 months to pay it off.
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- mary, a college student, needs to borrow $8000 today for her tuition. She agrees to pay back the loan in a lump-sum payment upon graduationg, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. what the total cost of Mary's student loan?Jessica borrows $1,000.00 from a credit card company at 25% annually for two years. Determine Jessica’s monthly payment. Show your work.Janet borrows $3500 from a credit card company at 22.5% annually for 3 years. Determine Janet’s monthly payment. Show your work.
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