Find the APR (Rounded to the Nearest Percent) for the Loan

question 181

Short Answer

Find the APR (rounded to the nearest percent) for the loan below.
Purchased an air conditioner for $2,150 at 12% add on interest for 2 years.
__________ %

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Definitions:

Market Rate

The average or standard amount of money paid for a particular job in the labor market.

CPI Rate

The Consumer Price Index (CPI) rate measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Pay as an Investment

The perspective of compensating employees as a strategic investment towards achieving the organization's goals, where better pay leads to better performance and outcomes.

High-Quality Workforce

A group of employees known for their exceptional skills, high productivity, and capability to drive organizational success.