Question: Suppose you borrow $ 1 0 0 for one year and pay a finance charge of $ 7 . If you repay this loan all

Suppose you borrow $100 for one year and pay a finance charge of $7. If you repay this loan all at once after one year, what is your average balance?
Multiple Choice
$7
$53.5
$100
$107
$50
Suppose you borrow $100 for one year and pay a finance

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