Excited by the prospect of exploring the backcountry, Alex has accumulated $5,000 to use as a down payment for a new adventure motorcycle. After poring over countless reviews and specs, Alex decides on the 2023 Trailblazer TX 400. This bike promises 50 horsepower of rugged terrain mastery, ensuring no hill is too steep or trail too challenging. Convinced of securing a fantastic deal, Alex negotiates the purchase price to $11,000, inclusive of a 7% sales tax, and the dealership even includes a top-of-the-line adventure helmet as part of the deal. With a $5,000 down payment, Alex will finance the balance. The finance manager offers Alex an impressive interest rate, with monthly repayments set at $160.86 over a 48-month term. Our task is to determine both the Annual Percentage Rate (A.P.R.) for this financing arrangement