Find the APR (Rounded to the Nearest Tenth of a Percent)

question 105

Short Answer

Find the APR (rounded to the nearest tenth of a percent) for the loan.
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Purchase a living room set for $4,900 at 8% add-on interest for 4 years.
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__________%

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Definitions:

Flextime

A program that allows employees to choose their starting and ending times, provided that they are at work during a specified core period.