Chapter 7 Installment Loans Use: Time Value of Money (TMV) keys Todd Gunderson buys a new computer system for $2,000, plus 8% sales tax. He financed the entire amount with the retailer at 6% interest for 24 months. The retailer charges a set-up fee of $60 for installment purchases (which is added to the loan). What is Todd's APR? Round your answer to the nearest hundredth percent. Use TVM worksheet