Find the Approximate Annual Percentage Rate Using the Approximate Annual

question 78

Multiple Choice

Find the approximate annual percentage rate using the approximate annual percentage rate formula. Round to the nearest tenth of a percent.
-Amount financed: $17,200
Finance charge: $3,546
Number of monthly payments: 48

• A)5.0%
• B)39.6%
• C)10.1%
• D)20.6%

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Definitions:

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A condition in which someone with significant mental disabilities demonstrates certain abilities far in excess of average.