Karla Kaufmann borrowed $750 at 12 percent for one year. She paid a $20 processing fee.

The interest paid will be $.

Thus, the total finance charge (the interest plus the processing fee) will be $

Therefore, to the nearest tenth, the APR = total finance charge : amount borrowed =

Question

2 February, 02:03

+3

Answers (2)

Know the Answer?

Rafael Simon · Answer 1

750x. 12 = $90

90+20=110

110/750 = 14.7%

Rosario · Answer 2

Total interest paid 750*0.12=90

Total finance charge 90+20=110

The APR (110/750) * 100=14.7%

Karla Kaufmann borrowed $750 at 12 percent for one year. She paid a $20 processing fee.The interest paid will be $.Thus, the total finance charge (the interest plus the processing fee) will be $Therefore, to the nearest tenth, the APR = total finance charge : amount borrowed =