You want to borrow $72,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,300, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 72-month APR loan? (Do not round intermediate calculations and and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %

You want to borrow $72,000 from your local bank to buy a new sallboat. You can afford to make monthly payments of $1,300, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 72-month APR loan? (Do not round intermediate calculations and and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) You want to borrow $72,000 from your local bank to buy a new sallboat. You can afford to make monthly payments of $1,300, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 72-month APR loan? (Do not round intermediate calculations and and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)