Find the APR to the nearest 0.5%. Use the Annual Percentage Rate table if necessary.
The owner of an automobile repair center purchased new electronic diagnostic equipment for $20,000. He paid 
down and then paid 60 monthly payments of $386.43. Determine the APR of the loan to the nearest 0.5%.
A. 9.0%
B. 9.5%
C. 8.5%
D. 8.0%
Answer: B
Mathematics
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