Joseph alexander obtained and installment loan of 1500 . he ahreed to repay the loan in 18 monthly payments. the fiance charge is 146.25. what is the apr?

Apr will be 6.49 %

Step-by-step explanation:

We have given amount financed = 1500

Finance charge = 146.25

Time of loan that is term of loan in months = 18 months

We know that apr is given by

So %

So apr will be 6.49 %

ok

step-by-step explanation:

the answer is 0052

0 0 5 2

5 0 2 6 3 5

− 0

2 6

− 0

2 6 3

− 2 5 0

1 3 5

− 1 0 0

3 5