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A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges $ 350.00 Subtotal $ 19,403.00 Tax S 1,164.18

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A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges $ 350.00 Subtotal $ 19,403.00 Tax S 1,164.18 Less trade-in $ 7,950.00 Amount to be financed $ 12,617.18 11% interest for 48 months $ 5,551.56 Total $ 18,168.74 MONTHLY PAYMENT $ 378.52 What is the annual percentage rate? (Round your answer to one decimal place.) X %

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