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QUESTION
A newlywed couple bought a washer and dryer for $800. They paid 10% down and then paid 12 monthly payments of $61.97. Determine the APR of the loan to the nearest of a percent. 8.0% 5.5% 7.5% 6.0%
A newlywed couple bought a washer and dryer for $800. They paid 10% down and then paid 12 monthly payments of $61.97. Determine the APR of the loan to the nearest of a percent.
8.0%
5.5%
7.5%
6.0%
