An Ontario employee is paid on a bi-weekly pay schedule. His Gross Earnings for this pay cycle is $2,346.52, CPP contribution is $125.35, El contribution is $36.37, Federal taxes are $309.25 and Ontario taxes are $158.45. Received a family support court or for $4,500. Calculate the amount to be withheld from employee's payroll on this pay cycle? A 2,250 B 4,500 858.55 D) 343.42

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.