Mathematics

25 June, 11:32

John Brown has a $50,000 loan. He has a 9% annual interest rate. He paid $2,000 in fees and $4,486.05 in total interest the first year. If the APR is the finance charge (interest plus fees) for one year : amount financed, what was the APR rounded to the nearest percent for that year?

+2

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “John Brown has a $50,000 loan. He has a 9% annual interest rate. He paid $2,000 in fees and $4,486.05 in total interest the first year. If ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

A pack of gum costs 75 cents. That is 3 cents less than three times what the pack cost 20 years ago. Which equation could be used to find the cost of the gum 20 years ago?

Franco spent $ 12.10 from his collection dimes and

There are over 2,700 species of snakes in the world. Over 600 species are venomous. Write the fraction of species that are not venomous as a decimal

The sum of two numbers is 80. The larger number is four more than three times the smaller number. Find both numbers.

Do you know how to do 5/3x 1/6 - 1

New Questions in Mathematics

What is 0.514 written as a power of 10? a. 514 x 10^2 b. 514 x 10^3 c. 514 x 10^-3

The table below shows the height (in inches) and weight (in pounds) of eight basketball players Height: 67, 69, 70, 72, 74, 74, 78, 79 Weight: 183, 201, 206, 220, 226, 240, 253, 255 What is the correlation coefficient of the set of data?

How to do angles like vertical and congruent

Which is longer, 4000 ft or 1 kilogram?

Mikey worked 8 hours on Wednesday, 6 hours on Thursday, and 7 hours on Friday. His gross pay for all three days was $187.95 A. $8.95 B. $8.98 C. $28.13 D. 65.63