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Marizza181
[45]
2 years ago
13
Jen Anderson takes out a mortgage for $120,000. This is a loan of 30 years at $500 per month. This gives a total interest cost o
f $60,000. What is the APR using the formula?
Mathematics
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2
answers:
velikii
[3]
2 years ago
7
0
APR=(2yc)÷(m×(n+1))
APR=(2×12×60,000)÷(120,000×(360+1))
=0.0332×100=3.32%
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Evgesh-ka
[11]
2 years ago
5
0
Answer:
3.32%
Step-by-step explanation:
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