Question: Tim Houston purchased a wall unit for ( $ 2 , 2 0 0 ) . He made a (

Tim Houston purchased a wall unit for \(\$ 2,200\). He made a \(\$ 600\) down payment and financed the balance with an installment loan for 48 months. If Tim's payments are \(\$ 43.50\) per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)
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Tim Houston purchased a wall unit for \(\$ 2,200\). He made

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