Jim tree borrowed $1,000 at 10 percent for one year. he paid a $45 processing fee and $100 in interest. he calculated the apr to the nearest tenth.

The APR is 14.5%

Step-by-step explanation:

APR is Annual Percentage Rate which is levied on the amount borrowed.

Jim Tree borrowed $1,000 at 10 percent for one year.

He paid a $45 processing fee and $100 in interest.

So, the total finance charge is =

Therefore, the APR is = = 0.145

And in percentage it is %

Hence, the answer is 14.5%

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step-by-step explanation:

u take $75 minus $60.the anwer/original($75)multiply by 100

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step-by-step explanation: