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A car dealer carries out the following calculations. What is the annual percentage rate? List price: $15,428.00

A) 4.75%
B) 5.25%
C) 5.75%
D) 6.25%

User Gray Ayer
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1 Answer

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Final answer:

To calculate the annual percentage rate (APR) for the car purchase, we need the list price and the interest rate. The given options for the APR cannot be determined without the total interest.

Step-by-step explanation:

To calculate the annual percentage rate (APR) we need to know the list price and the interest rate. In this case, the list price is $15,428.00. The APR is the annual interest rate charged by the car dealer. It is expressed as a percentage and represents the cost of borrowing the money to purchase the car.

To find the APR, we can use the formula:

APR = (Total Interest / List Price) * 100

Since we don't have the total interest given in this question, we cannot calculate the exact APR. Therefore, none of the given options A) 4.75%, B) 5.25%, C) 5.75%, or D) 6.25% can be determined as the correct answer.

User JiiB
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