Question

Find the annual percentage rate, using the annual percentage rate table.

Amount Financed: $2,650

Finance Charge: $484.69

Number of Payments: 36

Answer 1

:)

Step 1
484.69×100
=48,469
Step 2
48,469÷2,650
=18.29
Step 3
look on pymt line for 36 months & amount closets to 18.29
The closest is
18.29−17.86=0.43
18.71−18.29=0.42. ..this one (18.71)
look above for APR 11.5%

Hope it helps