If Marjorie Wilcox Borrows $300 for One Year with an APR

question 142

Multiple Choice

If Marjorie Wilcox borrows $300 for one year with an APR of 21% and an annual service fee of $6,what is her total cost of credit?

• A)$6
• B)$15
• C)$21
• D)$69
• E)$74