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Which of the following is the formula for calculating the APR on a credit card? (Total annual finance charges - Annual fee)/Average loan balance (Average

Which of the following is the formula for calculating the APR on a credit card?

(Total annual finance charges - Annual fee)/Average loan balance

(Average annual finance charges + Annual fee)/Average loan balance

Average annual finance charges/Average loan balance

(Total annual finance charges + Annual fee)/Average loan balance

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