2.

Find the annual percentage rate, using the annual percentage rate table.

Amount Financed: $8,900

Finance Charge: $1,030.62

Number of Payments: 24

Amount Financed: $8,900

Finance Charge: $1,030.62

Number of Payments: 24

(Finance Charge) / (Amount Financed) * 100$ = ($1,030.62) / ($8,900) * 100$

(Finance Charge) / (Amount Financed) * 100$ = (0.1158) * 100$

(Finance Charge) / (Amount Financed) * 100$=$11.58

In the row of number of Payments 24, we look for:

(Finance Charge) / (Amount Financed) * 100$=$11.58, and we to which annual porcentage rate it corresponds in the first row

Answer: The annual percentage rate is 10.75%