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Find the APR (Rounded to the Nearest Percent) for the Loan

Question 134

Multiple Choice

Find the APR (rounded to the nearest percent) for the loan below. Purchased a dining room set for $4,000 at 9% add-on interest for 2 years.


A) 18%18 \%
B) 15%15 \%
C) 17%17 \%
D) 12%12 \%
E) 5%5 \%

Correct Answer:

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