A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges $ 350.00 Subtotal $ 19,403.00 Tax $ 1,164.18 Less trade-in $ 7,950.00 Amount to be financed $ 12,617.18 3% interest for 48 months       $ 1,514.06 Total $ 14,131.24 MONTHLY PAYMENT $ 294.40 What is the annual percentage rate? (Round your answer to one decimal place.)  %

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