Question: Please show work. Compare the APR: one lump sum vs. 12 equal monthly payments 1. One Lump Sum: Calculate the APR for a $100 loan

Please show work.

Compare the APR: one lump sum vs. 12 equal monthly payments 1. One Lump Sum: Calculate the APR for a $100 loan that is paid off in one lump sum at the end of the year. The stated annual interest rate is 10%. 2. 12 Equal Monthly Payments Calculate the APR for a $100 loan that is paid off in 12 equal monthly payments. The stated annual interest rate is 10%. 3. How much of a difference is there in the APR for the 2 scenarios

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