https://file.aiquickdraw.com/mathbot/file/172859519643222ugcswg.jpg

The problem shown in the image asks for the **annual percentage rate (APR)**, using data provided in the loan table. Let's break down the given information:

- **Amount Financed**: $5,300
- **Finance Charge**: $687.94
- **Number of Monthly Payments**: 24

You are supposed to use an **APR Table** to determine the APR based on the information above. Here's a step-by-step guide on how to approach this:

### Step-by-Step Process:

1. **Calculate the Total Payment**:
   Total payment = Amount Financed + Finance Charge  
   Total payment = $5,300 + $687.94 = **$5,987.94**

2. **Determine Monthly Payment**:
   Divide the total payment by the number of monthly payments.  
   Monthly Payment = $5,987.94 / 24 = **$249.50 (approx)**

3. **Use the APR Table**:
   - Find the row that matches the amount financed ($5,300) in the APR table.
   - Look for the column where the finance charge ($687.94) corresponds to 24 monthly payments.
   - The intersection of these two should give you the APR.

Since I can't access the APR table directly, you would need to refer to the provided table link in the homework system. If you follow the steps above, it should guide you to find the correct APR.

Do you want more details on these steps or have any questions?

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### 5 Related Questions:
1. How is the finance charge calculated for a loan?
2. What is the difference between APR and interest rate?
3. How do late payments impact the APR of a loan?
4. Can APR change during the life of a loan, and if so, how?
5. How can different loan terms (e.g., shorter vs. longer repayment periods) affect APR?

### Tip:
Always double-check your finance charge against the APR table by matching it closely with the correct number of monthly payments to avoid miscalculating the interest.

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, Number 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 over 24 monthly payments. This problem involves loan calculations and using an APR table.

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