Mathematics, 21.10.2019 22:30 destinyshanece08
Using a calculator and the formula above, calculate the apr. choose the correct answer. betty buyer has a short term note at 16% interest per year. to the nearest tenth, apr = %.
Answers: 3
![APR = [(1-\frac{Rate}{12\times 100})^{Time}-1]\times 100\\\\APR =[ (1 - \frac{16}{1200})^{12}-1]\times 100\\\\APR = [1.1723-1]\times 100\\\\\implies\bf APR=17.23\%](/tpl/images/0339/4326/dcd0c.png)
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Using a calculator and the formula above, calculate the apr. choose the correct answer. betty buyer...
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