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4. [-18.52 Points] DETAILS AUFEXC4 11.3.013. MY N| Use a calculator for this exercise. Chuong Ngo borrows $4000 from a bank that advertises a 8%

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4. [-18.52 Points] DETAILS AUFEXC4 11.3.013. MY N| Use a calculator for this exercise. Chuong Ngo borrows $4000 from a bank that advertises a 8% simple interest rate and repays the loan in five 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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