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Zahra is offered what appears to be a very competitive loan of $ 3 , 0 0 0 to be paid back in 2 4

Zahra is offered what appears to be a very competitive loan of $

3, 000

to be paid back in

24

monthly payments of $

145.00

with a finance charge of $

360 .

Using the n

-

ratio method of estimating the APR, what is the APR on this loan?

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