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This is Business credit and i do not understand how to calculate APR rates or the formula. thanks Tim Houston purchased a wall unit for

This is Business credit and i do not understand how to calculate APR rates or the formula. thanks
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Tim Houston purchased a wall unit for $2,200. He msde a $800 down payment and financed the balance with an installment losn for 48 months. It Tim's payments are saz 50 per month, use the ApR formula to colculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)

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