In the past, a car manufacturer

manufacturer advertised 0% financing on many of its models. For example, a particular model had a cash price of $11,956.64

11,956.64. However, if you elected to buy the car under the 0% financing deal, then the manufacturer

manufacturer used a price of $13 comma 584

13,584. If you chose a 48

48-month term, then the manufacturer

manufacturer calculated your monthly loan payments using the 0% financing price instead of the cash price ($283

283 per month). In the fine print, the manufacturer

manufacturer was legally obliged to disclose the effective annual rate that it charged for the loan. What rate did the manufacturer

manufacturer disclose?