Brenda Callaway wants to borrow to purchase some new appliances. The bank offered her a $1.000 loan at 8% simple interest and an upfront service charge of $35. If she Is required to pay the entire loan at the end of one year, calculate the following:

A. Total Finance Charge:

B. Total Payment:

C. Annual Percentage Rate:

(Round to the nearest hundredth)

Answer rating: 100% (QA)

A Total Finance Charge Simple interest is calculated using the following formula Simple Interest Pri... View the full answer