Jake bought an old car from the used car dealer reliable autos Inc. for a price of $8,000. Jake paid $2,000 down payment and financed the remaining amount with loan for seven years and monthly payments of $158.04 at the end of each month. what is the rate of this financing (APR)?

Choose the correct answer:

2.22%

17.39%

15.69%

13.59%

26.59%