Find the APR (True Annual Interest Rate), to the Nearest

question 146

Multiple Choice

Find the APR (true annual interest rate) , to the nearest half percent, for the following.
-Amount financed: $3600 Monthly payment: $166.95
Number of payments: 24

• A)14%
• B)9.5%
• C)10.5%
• D)12%

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Definitions:

Extended Family

A family group that includes not just parents and children but also other relatives such as grandparents, aunts, uncles, and cousins.

Life Satisfaction

A measure of how individuals evaluate the quality of their lives as a whole.

Sexual Activity

Any behavior involving sexual intercourse, genital stimulation, or other actions aimed at achieving sexual pleasure or intimacy.

Companionship

A close relationship between individuals where friendship, emotional support, and sometimes physical closeness are provided and received.