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4 Craig has ust been quoted what appears to be a very competitive loan for $3,500 to be paid back in 36 monthly payments of

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4 Craig has ust been quoted what appears to be a very competitive loan for $3,500 to be paid back in 36 monthly payments of $123.47 and a finance charge of $945. However, the lender said that the interest would be calculated using the add-on method. Using the n-ratio method of estimating the APR, what is the APR on this loan? Y(95P+ 9)F APR- 12P(P+ 1)(4D+F)

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