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Unformatted text preview: Finance charges include interest costs and other costs. These other costs include: service charges, credit related insurance premiums or appraisal fees. 3. What amount will Sue receive from the bank? The amount Sue will receive from the bank is $6,000. 4. Should Sue borrow from Bank A or Bank B? Sue should borrow money from Bank A because, the total finance charges and APR is lower than what Bank B offers. Sue should definitely choose Bank A....
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This note was uploaded on 04/14/2010 for the course ACCT Act695 taught by Professor Smith during the Spring '10 term at York University.
- Spring '10