Questions: Choose the correct answer. Stacy Smith has a 50,000 loan. She paid 250 for a credit report, 300 for attorneys, 250 for appraisal fees, and 5,268 in total interest for the first year. If the APR is the finance charge (interest plus fees) for one year divided by amount financed, what was the APR for that year?

Choose the correct answer. Stacy Smith has a 50,000 loan. She paid 250 for a credit report, 300 for attorneys, 250 for appraisal fees, and 5,268 in total interest for the first year. If the APR is the finance charge (interest plus fees) for one year divided by amount financed, what was the APR for that year?

Transcript text: Choose the correct answer. Stacy Smith has a $50,000 loan. She paid $250 for a credit report, $300 for attorneys, $250 for appraisal fees, and $5,268 in total interest for the first year. If the APR is the finance charge (interest plus fees) for one year $\div$ amount financed, what was the APR for that year?