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21 March, 17:52

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 = %.

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  1. 21 March, 21:21
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    APR = ((1+0.16:12) ^ (12) - 1) * 100=17.2%
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