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

Question 227

Multiple Choice

Find the APR (rounded to the nearest percent) for the loan below. Purchased a lawn mower for $2,150 at 13% add-on interest for 3 years.


A) 20%20 \%
B) 25%25 \%
C) 4%4 \%
D) 39%39 \%
E) 13%13 \%

Correct Answer:

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