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anyanavicka [17]
3 years ago
8

2.

Mathematics
1 answer:
zimovet [89]3 years ago
7 0
Amount Financed: $8,900
Finance Charge: $1,030.62
Number of Payments: 24

(Finance Charge)/(Amount Financed)*100$=($1,030.62)/($8,900)*100$
(Finance Charge)/(Amount Financed)*100$=(0.1158)*100$
(Finance Charge)/(Amount Financed)*100$=$11.58

In the row of number of Payments 24, we look for:
(Finance Charge)/(Amount Financed)*100$=$11.58, and we to which annual porcentage rate it corresponds in the first row

Answer: The annual percentage rate is 10.75% 

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