# of Monthly PaymentsAnnual Percentage Rate (APR) 11%11.5%12%12.5%13%13.5%14%14.5%15%3517.3518.1819.0119.8520.6921.5322.3823.2314.083617.8618.7118.5720.4321.3022.1723.0423.9224.80Above is a table that gives the interest per every $100 financed. Use the table to determine the annual percentage rate for a 35 month loan that charges $22.38 per every $100 financed.
Find the row for 35 monthly payments, then locate the value $22.38 per $100 financed. That value is under the 14% APR column, so the correct choice is 14%.
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