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Using a calculator and the formula provided, determine the APR. Choose the correct answer.

Jim Tree buys his stock on credit at [tex]14 \%[/tex].

To the nearest tenth, APR = [tex]\square[/tex] %.

Sagot :

GinnyAnswer
To determine the Annual Percentage Rate (APR) based on the given interest rate, we should follow the steps below:

1. Identify the given interest rate:
Jim Tree buys his stock on credit at an interest rate of [tex]\( 14\% \)[/tex].

2. Convert the interest rate to the APR:
Since the interest rate is already given as a percentage (14%), the APR in percentage form is the same: [tex]\( 14\% \)[/tex].

3. Round the APR to the nearest tenth:
As the given interest rate is exactly [tex]\( 14.0\% \)[/tex], there's no need for further rounding since it's already precise to one decimal place.

Therefore, to the nearest tenth, the APR is [tex]\( 14.0\% \)[/tex].
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