Use a TVM slover to find the APR (true annual interest rate), to the nearest 0.01%, for the loan. Use the Annual Percentage Rate table if necessary.
PurchaseDown Payment Add-on# of Payments PriceInterest Rate $3500$5007%18
A. 12.01%
B. 12.53%
C. 12.88%
D. 12.69%
Answer: C
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A. - 
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