Problem

Jane Zahrley’s request for a four year automobile loan for $33,000 has been approved.  Res...

Jane Zahrley’s request for a four year automobile loan for $33,000 has been approved.  Reston Center Bank will require equal monthly installment payments for 48 months.  The bank tells Jane that she must pay a total of $5,500 in finance charges.  What is the loan’s APR?

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