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Question 21 3 pts Consider a $16,000, three-year loan at an interest rate of 3%, payments to be made monthly. What is the APR using

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Question 21 3 pts Consider a $16,000, three-year loan at an interest rate of 3%, payments to be made monthly. What is the APR using simple interest? Note: Show your answer in units of percents, use plain numbers with at least two digits after the decimal (e.g, for 12.34%, type 12.34)

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