Samir Purchased a Car For $\$ 40,000$ He Made a Down Payment Of

Samir purchased a car for $\$ 40,000$ . He made a down payment of $\$ 27,000$ and paid $\$ 410.37$ monthly for 3 years. Find the APR from the table below.

$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Annual Percentage Rate }$
$\begin{array}{ccccccc} & 6.0 \% & 6.5 \% & 7.0 \% & 7.5 \% & 8.0 \% & 8.5 \% \\\begin{array}{c}\text { Number of } \\\text { Payments }\end{array} & & & & & & \\36 & \$ 9.52 & \$ 10.34 & \$ 11.16 & \$ 11.98 & \$ 12.81 & \$ 13.64\end{array}$
$\text { (Finance charge per } \$ 100 \text { of amount financed) }$

$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Annual Percentage Rate }$
$\begin{array}{cccccccc}\begin{array}{c}\text { Number of } \\\text { Payments }\end{array} & 9.0 \% & 9.5 \% & 10.0 \% & 10.5 \% & 11.0 \% & 11.5 \% & 12.0 \% \\36 & \$ 14.48 & \$ 15.32 & \$ 16.16 & \$ 17.01 & \$ 17.86 & \$ 18.71 & \$ 19.57\end{array}$

$\text { (Finance charge per } \$ 100 \text { of amount financed) }$

A) 7.0%
B) 8.0%
C) 8.5%
D) 7.5%