Question: Problem 7 - 3 Calculating the Annual Percentage Rate [ LO 7 - 2 ] Dave borrowed $ 7 0 0 on January 1 ,

Problem 7-3 Calculating the Annual Percentage Rate [LO7-2]
Dave borrowed $700 on January 1,2022. The bank charged him a $900 service charge, and interest was $4910 if Dave paid the $700 in 12 equal monthly payments, what was the APR?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.
Problem 7 - 3 Calculating the Annual Percentage

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