Mathematics, 05.05.2020 15:14, Reijected

Chuong Ngo borrows $4800 from a bank that advertises a 9% simple interest rate and repays the loan in six equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula.

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Chuong Ngo borrows $4800 from a bank that advertises a 9% simple interest rate and repays the loan i...