[Solved] Taj Obtained a $1,000 Loan to Be Paid Back at the End

Question 4
Multiple Choice
Question 4

Taj obtained a $1,000 loan to be paid back at the end of 1 month. The lender quoted Taj a $200 fee. Which of the following is correct regarding this loan?

A) The APR is over 240%.
B) Taj will receive $1,200.
C) The $1,000 plus finance charges will be paid at the end of 1 year.
D) All of these answer choices are correct.

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