The highest apr rate can afford is 6.29%
Using financial calculator
input=
PV = 3600
N = 36
PMT = 110
Solve for I/Y as 0.5245
Hence APR = 0.5245*12 = 6.29%
Finance is the study and discipline of money, currencies, and capital assets. It is also known as financial economics. It is related to but not the same as economics, which is the study of the production, distribution, and consumption of money, assets, goods, and services. Finance activities occur in numerous scopes.
In financial systems, hence the field can be loosely classified into personal, corporate, and public finance. Assets such as currencies, loans, bonds, shares, stocks, options, futures, and so on are bought, sold, or traded as financial instruments in a financial system. Assets can also be banked, invested, and insured in order to increase value while minimizing loss. In practice, risks are inherent in all financial transactions and companies.
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