A person wants to borrow $25,000 at 3% interest for 15

Last updated: 7/24/2022

A person wants to borrow $25,000 at 3% interest for 15 years. Which of the following would be the equation to determine the FINANCE CHARGE of the loan? A. $25,000 = FCx.03 x 15 B. .03 = FC x $25,000 x 15 C. FC = $25,000x.03 x 15 D. 25 = FCx.03 x $15,000