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Craig has just been quoted what appears to be a very competitive
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Craig has just been quoted what appears to be a very competitive loan for $3,500 to be paid back in 36 monthly payments of $123.47 and a finance charge of $945. However, the lender said that the interest would be calculated using the add-on method. Using the n-ratio method of estimating the APR, what is the APR on this loan?

 







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This question was answered on: Feb 21, 2020

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