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In the image, you're tasked with finding the **Annual Percentage Rate (APR)** using an APR table, given the following information:

- **Amount Financed**: $5300
- **Finance Charge**: $687.94
- **Number of Monthly Payments**: 24

The question asks for the APR, but you are supposed to use the **APR Table for Monthly Payment Plans**, which usually involves finding the APR based on monthly payments, finance charges, and other loan conditions. The APR can be determined by matching the loan details with the corresponding APR in the table.

To calculate it manually without the table, we'd generally follow these steps:
1. **Find the monthly payment**: Total amount of loan + finance charge ÷ the number of payments.
2. **Use the APR formula** or the table lookup to approximate the APR.

If you can provide the table, I can help further with that.

Would you like me to proceed with any other details or clarifications? Here are some related questions:

1. What formula can we use to approximate the APR without a table?
2. How are finance charges typically calculated in loan agreements?
3. What are the differences between APR and interest rate?
4. What is the importance of knowing the APR before accepting a loan?
5. How do monthly payments affect the overall cost of a loan?

**Tip**: Always look at the total repayment amount (including finance charges) when comparing loans, as a lower APR can significantly reduce your cost over time.

Find the annual percentage rate using the annual percentage rate table. Here are some conditions of the loan: Amount Financed: $5300, Finance Charge: $687.94, No. of Monthly Payments: 24.

Learn how to calculate the Annual Percentage Rate (APR) for a loan of $5300 with a finance charge of $687.94 and 24 monthly payments. Understand key concepts like APR calculation, finance charges, and loan payments. Suitable for students in Grades 10-12.

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