Assuming that you can afford a car payment of $400 for 36 months,which of the following is closest to the annual interest rate you would need on a loan to borrow $12,000 for a new car?
A)10.99 percent
B)11.26 percent
C)12.25 percent
D)12.99 percent

Question

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The Answer of Assuming that you can afford a car payment of $400 for 36 months,which of the following is closest to the annual interest rate you would need on a loan to borrow $12,000 for a new car?
A)10.99 percent
B)11.26 percent
C)12.25 percent
D)12.99 percent

Assuming That You Can Afford a Car Payment of $400