Meghan Pease purchased a small sailboat for $8,100. She made a down payment of $1,600 and financed the balance with monthly payments of $303.63 for 25 months.

Click here forTable 13-1

While computing APR, consider the table factor that most closely corresponds to the finance charge per $100.

a. What is the finance charge on the loan? Round your answer to the nearest cent.

$

b. Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan.

Do not enter the percent symbol in your answer. Round your answer to two decimal places.

%