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question 95

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Solve the problem. Use the approximate APR formula to estimate the APR, and round rates to the nearest tenth of a percent.
-To help plow driveways, Joe Burk purchased a small tractor with a snowplow for $1800. He agreed to pay $90.44 per month for 22 months when he charged it. What is the approximate annual percentage rate?


Definitions:

Interview

A formal meeting where one or more persons question, consult, or evaluate another person, typically used for the purposes of selection, assessment, or information gathering.

Government Publication

A document issued by a government agency or body, often containing statistics, research findings, or legal texts.

Empirical Research

A method of inquiry that relies on direct observation or experiment to gather data and knowledge, as opposed to theories or logic alone.

Interview

A formal meeting in which one or more persons question, consult, or evaluate another person.

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