Multiple Choice
Use an annual percentage rate table to solve the problem.
-A newlywed couple bought a washer and dryer for $800. They paid 10% down and then paid 12 Monthly payments of $61.97. Determine the APR of the loan to the nearest one-half of a percent.
A) 6.0%
B) 7.5%
C) 5.5%
D) 8.0%
Correct Answer:
Verified
Correct Answer:
Verified
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