Question
Find the APR (true annual interest rate), to the nearest 0.01%, for the loan given below. Purchase Down Price Payment Add-On Interest Rate Number
Find the APR (true annual interest rate), to the nearest 0.01%, for the loan given below. Purchase Down Price Payment Add-On Interest Rate Number of Payments $4150 $310 3.1% 12 The APR for the loan amount is %. (Type an integer or decimal rounded to the nearest hundredth as needed.)
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Heres how to calculate the APR Annual Percentage Rate for the loan 1 Calculate the financed amount Financed amount Purchase price Down payment 4150 31...Get Instant Access to Expert-Tailored Solutions
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Step: 3
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