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Blababa [14]
3 years ago
10

I really need some help with this, it's confusing me something fierce. Could you do a step by step if possible, please.

Mathematics
1 answer:
lara31 [8.8K]3 years ago
8 0

Total of fees: 1,000 + 4,900 = 5,900

You are told the APR is the total fees divided by the amount financed, so divide the total fees by the amount financed:


5,900 / 83,098.59 = 0.71

0.71 x 100 = 7.1% APR.


The answer is B.

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