Solve the problem.The approximate annual interest rate for a consumer loan paid off with monthly payments is given by the algebraic expression , where f is the finance charge on the loan, p is the number of payments, and b is the original amount of the loan. Find the approximate annual interest rate for an automobile loan to be repaid in 24 monthly installments if the finance charge on the loan is $528 and the original loan balance is $3780.(Round your answer to two decimal places, if necessary.)

A. 13.96%
B. 12.24%
C. 14.58%
D. 13.41%


Answer: D

Mathematics

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