Find the APR (true annual interest rate) to the nearest half percent.
Amount Financed$1,350Finance Charge$74.25Number of Monthly Payments12APR Table (Finance Charge per $100 of Amount Financed)Annual Percentage Rate
Number of Payments8.0%8.5%9.0%9.5%10.0%12.0%62.352.492.642.792.933.53124.394.664.945.225.506.62186.456.867.287.698.109.77248.549.099.6410.1910.7512.984817.1818.3119.4520.5921.7426.40
A. APR
B. APR
C. APR
D. APR
E. APR
Answer: C
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