What is the annual percentage rate

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Question - Craig will be ordering the Hellephant directly from Mopar at a cost of $33,799.92. Taxes will add another 7%. Craig will be borrowing the total amount from Indiana Members Credit Union. Because of the unique nature of the investment and the age of his car, Craig understands that he will be paying a substantially higher rate of interest than he would for a new car loan. The loan officer informs Craig that his monthly payment for the 60-month loan will be $775.35. What is the Annual Percentage rate- answer in excel is preferred?

Reference no: EM133173203

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