Sly's Used Cars just sold you a clunker (you need it to get to class on time).You financed the $4,728.48 purchase price for 24 months.They said your payment would be $250.What interest rate did they charge you (assume monthly compounding)?
A)10%
B)12%
C)16%
D)19%
E)24%

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The Answer of Sly's Used Cars just sold you a clunker (you need it to get to class on time).You financed the $4,728.48 purchase price for 24 months.They said your payment would be $250.What interest rate did they charge you (assume monthly compounding)?
A)10%
B)12%
C)16%
D)19%
E)24%

Sly's Used Cars Just Sold You a Clunker (You Need