Annual Percentage Rate (APR)
CO E
# of Monthly
Payments
35
36
11%
17.35
1 17.86
11.5%
18.18
18.71
12% | 12.5%
19.01 19.85
18.57 | 20.43
13% 1 13.5% 14% 14.5% 15%
20.69 21.53 22.38 23.23 14.08
21.30 | 22.17 | 23.04 | 23.92 | 24.80
Above is a table that gives the interest per every $100 financed. Use the table to determine the annual percentage rate for a 35
month loan that charges $22.38 per every $100 financed.
a. 13%
C. 15%
b. 14%
d. 16%
Please select the best answer from the choices provided
•
А
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