Answers CA-Common Core Geometry DVHS Sem. 1 Installment LoansQuestion 4

4

QuizMultiple Choice

Installment Loans

Question 4 • CA-Common Core Geometry DVHS Sem. 1

# of Monthly PaymentsAnnual Percentage Rate (APR) 11%12%13%14%15%16%17%18%19%115.586.106.627.147.668.188.709.229.49126.066.627.187.748.318.889.4510.0210.59Above is a table that gives the interest per every $100 financed. Use the table to determine the annual percentage rate for a 11 month loan that charges $6.62 per every $100 financed.

Answer

A

13%

B

14%

C

15%

D

16%

Explanation

Find the row for 11 monthly payments and locate the charge of $6.62 per $100 financed. In that row, $6.62 appears under the 13% APR column, so the annual percentage rate is 13% (choice A).

AI-written and checked against the verified answer.

Back to All Questions

More from this Course

18 verified answers

Isosceles Triangles

16 verified answers

Symmetry

16 verified answers

Triangle Angle Theorems