Aloan for $1,200 has an annual interest rate of 5.2%. there is a $15 processing fee to receive the loan. the loan’s apr is .

A loan for $1,200 has an annual interest rate of 5.2%. There is a $15 processing fee to receive the loan. The loan’s APR is 5.2%

Solution:

Since full form of APR is Annual Percentage Rate and it is defined as rate of interest for whole year which means it is same as annual interest rate. Also processing fee is totally different component.

So APR = annual interest rate eqn 1

Given that a loan of $1200 has an annual interest rate of 5.2% .

So by using eqn 1 we can say APR = annual interest rate = 5.2%

Hence APR for a loan of $1200 is 5.2%

c. y = 1/4 x + 5

step-by-step explanation:

first, put the equation of the line on the graph into slope-intercept form

(y = mx + b):   y = -4x + 8

second, a perpendicular line has to have "an opposite/reciprocal slope" to the original slope. so, find the "m" value in your original equation (it's -4, right? )

original slope: m = -4   perpendicular slope: change the sign to its opposite and find the reciprocal ("flip" the number)

new slope is now positive (b/c the original slope was negative 4), and it's 1/4 (not the original slope of 4 or 4/1)

what