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Brad Henderson takes out a mortgage for $300,000. This is a 30-year loan at $1,000 per month. This is a total interest of $60,000. What is the APR using the formula (to the near…

Brad Henderson takes out a mortgage for $300,000. This is a 30-year loan at $1,000 per month. This is a total interest of $60,000. What is the APR using the formula (to the near…
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Brad Henderson takes out a mortgage for $300,000. This is a 30-year loan at $1,000 per month. This is a total interest of $60,000. What is the APR using the formula (to the nearest tenth)? APR = _____%

1.3
3.3
13.2
33.2

User Dan Klos
by
8.5k points

1 Answer

5 votes
3.3 is the answer hope this helps.
User Lxyu
by
9.0k points
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