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Lisa rosas borrws $5000 at 5% add on rate for one year. What is the financial charge? What is the APR?

Lisa rosas borrws $5000 at 5% add on rate for one year. What is the financial charge? What is the APR?
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5 votes
Lisa rosas borrws $5000 at 5% add on rate for one year. What is the financial charge? What is the APR?

asked
User EdgarX
by
7.9k points

1 Answer

1 vote

Answer:

Finance charge: $250

APR: 9.23%

Explanation:

answered
User Brunocrt
by
7.7k points
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