Question

HELP!!!! Tim Smith has a $90,000 loan. His monthly payment is given in the table above. He paid $1,500 in fees and $6,271.04 in total interest the first year of the loan. If the APR is finance charge (interest plus fees) for one year ÷ amount financed, what was the APR for that year?

Answer 1

Best answer gets a medal

Answer 2

need help

Answer 3

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?

Answer 4

6500

Answer 5

Is that rounded to the nearest percent???