You have arranged for a loan on your new car that will require the first payment today. The loan is for $37,000, and the monthly payments are $675.

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If the loan will be paid off over the next 66 months, what is the APR of the loan? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)