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The total finance charge (fees plus interest) divided by the amount financed represents a ratio that can be used to determine the annual percentage rate of a loan, or APR.

The total finance charge (fees plus interest) divided by the amount financed represents a ratio that can be used to determine the annual percentage rate of a loan, or APR.
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The total finance charge (fees plus interest) divided by the amount financed represents a ratio that can be used to determine the annual percentage rate of a loan, or APR.

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User Fran Hoey
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1 Answer

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That statement is true
The total finance charge plus interest divided by the amount dinanced represents a ratio that can be used to determine the annual percentage rate.

hope this helps
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User Rishabh Batra
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