You purchase a new living room set for $1,275. You put a 5% down payment and $75.76 per month on a 24 month purchase plan. Use the APR formula to determine the annual percentage rate to a tenth of a percent.

a.

35.23%

c.

41.7%

b.

37.03%

d.

45.2%

The answer is c

Question

Sandoval

2 December, 23:13

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Answers (1)

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Haylie Liu · Answer 1

Haylie Liu 3 December, 00:18

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No, the answer is D) 45.2%

You purchase a new living room set for $1,275. You put a 5% down payment and $75.76 per month on a 24 month purchase plan. Use the APR formula to determine the annual percentage rate to a tenth of a percent.a.35.23%c.41.7%b.37.03%d.45.2%The answer is c