Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the APR for the example that Congresswoman Porter gave? Remember, the amount borrowed is $200. Origination fee is $200 and the interest is

What is the APR for the example that Congresswoman Porter gave? Remember, the amount borrowed is $200. Origination fee is $200 and the interest is $10 per $100 borrow. The loan is for 2 weeks. (Answer as a percent. Enter only numbers and decimals in your response. Round to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mergers Acquisitions And Other Restructuring Activities

Authors: Donald DePamphilis

11th Edition

012819782X, 978-0128197820

More Books

Students also viewed these Finance questions