Answer:
20.33%
Step-by-step explanation:
Principal = $2650
Total Interest = $300
Total amount = 42650+$300=$2950
Since we are given that You paid off the loan in 1 year by making 12 monthly payments
So, monthly payment = 
Formula of monthly payment = 
where i is the rate of interest in decimals
To find i substitute the values

using calculator

So, rate of interest in percent = 
Thus the annual percentage rate (APR) is 20.33%
Answer:
The next step is to combine constants
Step-by-step explanation:
Answer:
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