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Mathematics
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OpenStudy (reesee60936):
Ursula took out an unsubsidized Stafford loan to help pay for her first of her four years at college. The loan had a principal of $6,400, an interest rate of 6.9% compounded monthly. After college, Ursula started making monthly payments over a 10 year period on her loan. What percentage of the total cost of the loan is the finance charge? a. 45.25% b. 27.91% c. 43.50% d. 82.66%
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