Multiple Choice
Use an annual percentage rate table to solve the problem.
-A student has a total of $2000 in student loans that will be paid with a 48-month installment loan With monthly payments of $49.30. Determine the APR of the loan to the nearest one-half of a Percent.
A) 8.5%
B) 7.5%
C) 9.5%
D) 8.0%
Correct Answer:
Verified
Correct Answer:
Verified
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