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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.
-Maria Perez bought a washer-dryer combination on sale for $450, charging it to her card and agreeing to pay $40.51 per month for one year. Find the approximate annual percentage rate for this loan.
Average Total Cost
The per unit cost of production, calculated by dividing the sum of all production costs by the quantity of output produced.
Workers
Individuals engaged in physical or mental activity in order to achieve a result, often employed for wages.
Units
The standard measurement or quantity in which a product, service, or statistic is counted or expressed.
Marginal Cost
The cost of producing one additional unit of a good or service.
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