A homeowner installed a new swimming pool for $4000. He paid 8% down and then paid 36 monthly payments of $115.32. Determine the APR of the loan to the nearest one-half of a percent.

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The Answer of A homeowner installed a new swimming pool for $4000. He paid 8% down and then paid 36 monthly payments of $115.32. Determine the APR of the loan to the nearest one-half of a percent.

A Homeowner Installed a New Swimming Pool for $4000