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Joshua borrowed $1,200 for one year and paid $60 in interest. The bank charged him a service charge of $9. If Joshua repaid the loan
Joshua borrowed $1,200 for one year and paid $60 in interest. The bank charged him a service charge of $9. If Joshua repaid the loan in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR % Sidney took a cash advance of $450 by using checks linked to her credit card account. The bank charges a cash advance fee of 3 percent on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. a. What was the cash advance fee? (Round your answer to 2 decimal places.) Cash advance fee b. What was the interest for one month at an APR of 12 percent? (Round your answer to 2 decimal places.) Interest c. What was the total amount she paid? (Round your answer to 2 decimal places.) Total amount d. What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a 30-day grace period. (Round your answer to 2 decimal places.) Amount paid 6:05 PM 2/17/2021 W
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