\fIn the credit account statement below, the values of the annual percentage rate (APR), nance charge, and the new balance must be calculated. $1,022.61 1.5% $322.20 $300.00 Recall that the annual percentage rate (APR) is tied to the monthly periodic late by the following formula. monthly periodic rate = By solving this equation for the APR, the known value for the monthlyr periodic rate can be substituted to calculate the APR. APR = monthly periodic rate x 12 The monthly periodic rate is given to be 1.5%. Find the APR. APR 12 x monthly periodic late WE... =:%