Question

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

Answer 1

500*0.12=60 interest paid
Total finance charge=60+25=85
APR=85÷500
APR=0.17*100=17%

Answer 2

Answer:

Step-by-step explanation:

interest:60

int+fee :85

all        :17