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a you the 5-44

Economics

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a you the 5-44. To purchase a used automobile, you borrow $10,000 from Loan Shark Enterprises. They tell interest rate is 1% per month for 35 months. They also charge you $200 for a credit investigation, so you leave with $9,800 in your pocket. The monthly payment they calculated for you is $10,000 (0.1) (35) + $10,000 35 = $385.71/month If fyou agree to these terms and sign their contract, what is the actual APR (annual percentage rate) that you are paying? (5.6)