Mathematics, 21.05.2020 04:00 babbygirl8597
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?
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?
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