Calculate the annual percentage rate for the following installment loan using the APR formula, rounding dollars to the nearest cent and percents to the nearest hundredth. $$\begin{array} { l l l l l }
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Finance } & \
\underline {\text { Financed }} & \underline { \text { Payments } } & \underline { \text { Payment } } & \underline { \text { Charge } } & \underline {\text { APR } }\
\$ 15,250 & 48 & \$ 484.25 & &
\end{array}$$

Question

Calculate the annual percentage rate for the following installment loan using the APR formula, rounding dollars to the nearest cent and percents to the nearest hundredth. $$\begin{array} { l l l l l } 
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Finance } & \
 \underline {\text { Financed }} & \underline { \text { Payments } } & \underline { \text { Payment } } & \underline { \text { Charge } } &  \underline {\text { APR } }\
\$ 15,250 & 48 & \$ 484.25 & &
\end{array}$$

Quizplus · Accepted Answer

The Answer of Calculate the annual percentage rate for the following installment loan using the APR formula, rounding dollars to the nearest cent and percents to the nearest hundredth. $$\begin{array} { l l l l l } 
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Finance } & \
 \underline {\text { Financed }} & \underline { \text { Payments } } & \underline { \text { Payment } } & \underline { \text { Charge } } &  \underline {\text { APR } }\
\$ 15,250 & 48 & \$ 484.25 & &
\end{array}$$

Calculate the Annual Percentage Rate for the Following Installment Loan