#### Explain this!

##### Junior Member

- Joined
- Feb 7, 2019

- Messages
- 145

The amount financed per $100.00 is $20.10 divided by $150.00 multiplied by $100.00. The amount is $13.40. This amount is needed to determine the finance charge.

The answer is 16.25%, This percentage is found by using an APR table. My question is as follows:

How can the APR of 16.25% be determined by using a calculation?