Eddy purchased a club membership costing $$2,520.$ He made a down payment of $$520$ and financed the balance with an installment loan for $48$ months. If the

payments are $$60\mathrm{.}06$ each month, use Table $13-1$ from your text to find the APR.

$16\mathrm{.}75\%$

$18\mathrm{.}25\%$

$19\mathrm{.}25\%$

$20\mathrm{.}50\%$

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