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Paula Purchaser borrowed $500 at 12 percent for one year. She paid a $25 processing fee.


The interest paid will be $ ?


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


Therefore, the APR = total finance charge ÷ amount borrowed = ? %



Help please!!!

Verified Answer :

Aliwohaish12

5000.12=60 interest paid
Total finance charge=60+25=85
APR=85÷500
APR=0.17100=17%

Answer:

Step-by-step explanation:

interest:60

int+fee :85

all        :17

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