Question 43 (3 points) After visiting several automobile dealerships, Richard Welch selects the car he wants. He likes its $12,000 price, but financing through the dealer is no bargain. He has $2,000 cash for a down payment. Richard borrows $10,000 for a period of four years with monthly payments and an add-on interest rate of 10%p.a. 2xnxI What is the annual percentage rate (APR)? (note APR= P(N +1) a) 18.46% Ob) 17.83% Oc) 4.9% Od) 23.51% e) 19.59%