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Alexandria is buying a new Escalade from Nancy's Auto Sales, the dealer is providing the financing...

Alexandria is buying a new Escalade from Nancy's Auto Sales, the dealer is providing the financing and Hillary uses the add-on method. If Alexandria borrows $55,000 at 9.5% for 5 years. What is the APR on Alexandria’s loan?

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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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