Solve the problem. Use the approximate APR formula to estimate the APR, and round rates to the nearest tenth of a percent.
-Maria Perez bought a washer-dryer combination on sale for $450, charging it to her card and agreeing to pay $40.51 per month for one year. Find the approximate annual percentage rate for this loan.
A) 14%
B) 15.8%
C) 16%
D) 14.8%
Correct Answer:
Verified
Q68: Solve the problem.
-The March 1 unpaid balance
Q69: Use the loan payoff table to find
Q70: Find the approximate annual percentage rate using
Q71: Find the finance charge for the following
Q72: Solve the problem.
-The Best Company ordered $8327
Q74: Find the payment necessary to amortize the
Q75: Solve the problem. Use the approximate APR
Q76: Using the Rule of 78, find the
Q77: Solve the problem and use the table
Q78: Solve the problem. 
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