Question: [-/1 Points] DETAILS CRAUDCOLALG6 2.4.EX.020. MY NOTES ASK YOUR TEACHER PRACTICE ANO If you borrow $4700 at an APR of r (as a decimal) from

[-/1 Points] DETAILS CRAUDCOLALG6 2.4.EX.020. MY NOTES ASK YOUR TEACHER PRACTICE ANO If you borrow $4700 at an APR of r (as a decimal) from a lending institution that compounds interest continuously, and if you wish to pay off the note in 3 years, then your monthly payment M, in dollars, can be calculated using M = 4700(er/12 - 1) -3r Your budget will allow a payment of $150 per month, and you are shopping for an interest rate that will give a payment of this size. What interest rate do you need to find? (Round your answer to two decimal places.) Need Help? Read It

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