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Barbara Borrower has a short term note at 15% interest per year. To the nearest tenth, APR = ____%. 1.3; 1.6; 12.5; 16.1 answer key

Barbara Borrower has a short term note at 15% interest per year. To the nearest tenth, APR = ____%. 1.3; 1.6; 12.5; 16.1

answer key says 16.1 but not sure how this is derived

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