Question

Above is a table that gives the interest per every $100 financed. Use the table to determine the annual percentage rate for a 35 month loan that charges $22.38 per every $100 financed.
a.
13%
c.
15%
b.
14%
d.
16%

Answer 1

The annual percentage rate for a 35 month loan that charges $22.38 per every $100 financed is seen from the table to be 14%.

How to determine Annual Percentage Rate?

From the table, the APR for 35 months loan that charges $22.38 per every $100 financed is seen to be 14%.

Thus, we can conclude that the annual percentage rate for a 35 month loan that charges $22.38 per every $100 financed is seen from the table to be 14%.

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