If Linda purchased a sofa for 5900 paying 750.00 down. Balance was financed for 23 equal monthly payments and agreed to pay 684.00 finance charge. What is the amount financed and the APR?

To find the amount financed, subtract the down payment from the total cost of the sofa: $5,900 - $750 = $5,150. The total amount to be repaid, including the finance charge, is $5,150 + $684 = $5,834. The monthly payment is $5,834 divided by 23, which is approximately $253.13. To calculate the APR, you would typically use the formula for the annual percentage rate, but it requires more detailed information about the loan structure; however, in this case, the APR can be estimated using financial calculators or spreadsheets, which often yield an APR of around 14-16% for similar loans.