Ireally need some with this, it's confusing me something fierce. could you do a step by step if possible, . choose the correct answer. mike morgan has a $83,098.59 loan. he paid $1,000 in fees and $4,900 in total interest the first year. if the apr is the finance charge (interest plus fees) for one year ÷ amount financed, what was the apr for that year? a) 7.5 b) 7.1 c) 7.3