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OpenStudy (tyler444):
Stacy Smith has a $50,000 loan with a 10% annual interest rate. She paid $250 for a credit report, $300 for attorneys, $250 for appraisal fees, and $5,268 in total interest for the first year. If the APR is the finance charge (interest plus fees) for one year ÷ amount financed, what was the APR for that year?
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OpenStudy (tyler444):
please help
OpenStudy (anonymous):
I'm not good with this but maybe @Astrophysics could help u out?
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