Find the Annual Percentage Rate Using the Table

question 55

Multiple Choice

Find the annual percentage rate using the table.

-Eileen purchased a sofa for $540 and financed it for 17 months. The total finance charge was $85.48. Find the annual percentage rate.

• A) 20.00%
• B) 20.25%
• C) 20.50%
• D) 20.75%

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