Kingston obtained a loan for $1,000 to be paid back in 30 days. The lender quoted Kingston a $200 fee. Which of the following statements is correct regarding this loan?

A The APR is over 240%.

Step-by-step explanation:

Given:

Loan amount = $1000Time = 30 daysRate = $200 per 30 days

Now options:

A The APR is over 240%.

Correct since  $200 per 30 days  ⇒ 20% per 30 days ⇒ 240$ per 360 days ⇒ more than $240 for year

B The fee will be paid only if Kingston makes a late payment.

Incorrect. This is the sum to be paid at the end of 30 days

C The $1,000 plus finance charges will be paid at the end of one year.

Incorrect. All charges including the loan due paid at the end of 30 days

D Kingston will receive $1,200 from the loan.

Incorrect. Loan amount is $1000`.

Yeah she/ he needs look how long that is man