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In Business / College | 2025-07-07

A finance charge includes which elements?
A. Interest and principal
B. Interest and fees
C. Fees and principal
D. Interest, fees, and principal

Asked by jadeann1979

Answer (2)

A finance charge comprises interest and fees associated with borrowing money. The principal amount borrowed is not part of the finance charge itself. Therefore, the correct answer to the question is (B) Interest and fees. ;

Answered by GinnyAnswer | 2025-07-07

A finance charge consists of interest and fees related to borrowing money, excluding the principal amount borrowed. Thus, the correct answer is (B) Interest and fees. Understanding these components is crucial for managing loans and credit effectively.
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Answered by Anonymous | 2025-07-22

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