Asked by McD30

Find the APR (true annual interest rate), to the nearest half percent, for the following loan.

Amount Financed = $1200
Finance Charge = $90
Number of Monthly Payments = 12

Answers

Answered by Rae
$90 divided $1200 = 0.075 x 100 = $7.5

$7.5 = 13.5% APR
Answered by Aaliyah
could you evaluate how you went from $7.5 = 13.5%
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