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:

Work Accomplishment

The successful completion of tasks or achievement of goals in a professional setting, often contributing to the organization's objectives.

Expectancy Theory

A motivational theory suggesting that an individual's motivation is influenced by their expectation of the outcome and the attractiveness of that outcome.

Goal Theory

A psychological framework that seeks to understand how setting goals affects behavior and performance, emphasizing the importance of establishing challenging and specific goals.

Best Practices

Established professional procedures that are considered most effective.