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A car dealer carries out the following calculations. List price $ 5,368.00 Options $ 1,625.00 Destination charges $ 200.00 Subtotal $ 7,193.00 Tax $ 431.58

A car dealer carries out the following calculations.

List price $ 5,368.00

Options $ 1,625.00

Destination charges $ 200.00

Subtotal $ 7,193.00

Tax $ 431.58

Less trade-in $ 2,932.00

Amount to be financed $ 4,692.58

11% interest for 48 months $ 2,064.74

Total $ 6,757.32

MONTHLY PAYMENT $ 140.78

What is the annual percentage rate? (Round your answer to one decimal place.) %

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