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A Newspaper Advertisement Offers a $9,000 Car for Nothing Down 6.1%6.1 \%

Question 154

Multiple Choice

A newspaper advertisement offers a $9,000 car for nothing down and 36 easy monthly payments of $296.87. What is the APR? Round your answer to the nearest tenth of a percent.


A) 6.1%6.1 \%
B) 16.0%16.0 \%
C) 9.7%9.7 \%
D) 31.1%31.1 \%
E) 12.2%12.2 \%

Correct Answer:

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