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First America Banks monthly payment charge on a 48-month, $23,000 loan is $598.26. The U.S. Banks monthly payment fee is $607.70 for the same loan
First America Banks monthly payment charge on a 48-month, $23,000 loan is $598.26. The U.S. Banks monthly payment fee is $607.70 for the same loan amount. What would be the APR for an auto loan for each of these banks? (Use Table 14.1.) Note: Round your final answers to the nearest hundredth percent.
APR First Bank- between % and %?
APR U.S Bank- between % and %?
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