Jim Tree borrowed $1,000 at 10 percent for one year. He paid a $45 processing fee and $100 in interest. Thus, the finance charge is $145, the interest plus the application fee. What is the APR for this loan? APR (to the nearest tenth) =

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# Jim Tree borrowed $1,000 at 10 percent for one year. He paid a $45 processing fee and $100 in interest. Thus, the finance charge is $145, the interest plus the application fee. What is the APR for thi

Jim Tree borrowed $1,000 at 10 percent for one year. He paid a $45 processing fee and $100 in interest. Thus, the finance charge is $145, the interest plus the application fee. What is the APR for this loan? APR (to the nearest tenth) =