Page 19 of 41 Question 19 (2.5 points) Sowd Page 2 Aarnav just bought a new car. He financed the purchase with a $28,315.00 loan that requires him to pay $507.50 per month for the next 5 years (first payment due exactly one month from today). What is the nominal annual interest rate (le, the p.a. rate) that Aarnay is being charged on this loan? Te 3 1) 7.6396 2) 9.48% 3) 24.15% 4) 2.42% 5) 2.89% Previous Page Next Page Page 19 of 41